An Iranian official says the country will launch a direct shipping route to South Africa and then on to Latin America.
The trade official said the plan to design the linking route is on the agenda.
“Registration is underway of applications by those requesting to directly transport commodities to those countries,” said Babak Afghahi, the head of the non-oil trade and export development committee of the Iranian Chamber of Commerce (ICC).
The said shipping lane is going to be launched with the support of the Islamic Republic of Iran Shipping Lines (IRISL) and is aimed to develop Iran’s non-oil trade with the countries in the mentioned regions.
“With the support of the Islamic Republic of Iran Shipping Lines, considering the capacity of Iran’s cargo export to the mentioned destinations, the chambers of commerce across the country, the Trade Promotion Organization (TPO) of Iran and other export bodies have been informed about the new development,” Afghahi said.
The Islamic Republic’s trade with South Africa reached $43 million in the first six months of the previous Iranian calendar year (March 21-September 22, 2019), while the figure stood at $27 million in the same period of its preceding year.
Following a new strategy for boosting non-oil trade and distancing the country’s economy from oil, Iran has been launching several direct shipping lines to its major trade destinations over the past few years