Tehran hosting Iran Export Capabilities Expo

TEHRAN,April 29(MNA) - The first Iran Export Capabilities Expo opened in Tehran with traders from 40 countries participating in the exhibition. Over 400 traders from Switzerland, Germany, Greece, Romania, South Korea, Lebanon, Iraq, and Afghanistan have attended the event, which will run till Tuesday. Petrochemical, construction, industrial, and agricultural sectors have put their export capabilities on display. Iran’s non-oil trade with outside world hit $94.8 billion in the past Iranian calendar year, which ended on March 20. Non-oil exports stood at $41.5 billion, while imports amounted to $53.3 billion in the past year. According to official statistics, the figures were $43.7 billion and $61.7 billion, respectively, in the calendar year which ended in March 2012. At the beginning of 2012, the United States and the European Union imposed new sanctions on Iran’s oil and financial sectors. The sanctions, which prevent the EU member states from purchasing Iranian oil or extending insurance coverage for tankers carrying Iranian crude, came into effect on July 1, 2012. The U.S.-engineered sanctions were imposed based on the accusation that Iran is pursuing non-civilian objectives in its nuclear energy program. Iran rejects the allegation, saying that as a committed signatory to Non-Proliferation Treaty and a member of the International Atomic Energy Agency, it has the right to use nuclear technology for peaceful purposes.