TEHRAN- A British economic delegation is scheduled to visit Iran in October to explore ways for expansion of Iran-Britain trade ties, according to Norman Lamont, the chairman of Iran-Britain Joint Chamber of Commerce.

Lamont, who is also the deputy head of Iran-Britain Parliamentary Friendship Group, said the delegation will be led by Richard John Dalton, a former British ambassador to Iran, the IRNA news agency reported on Saturday.

“Iran and Britain experienced a decreasing trend of bilateral trade over the past decade; therefore, the joint chamber of commerce faces several financial problems”, the British official stated and expressed hope over expansion of trade ties between the two countries.

“For the time being, there are many opportunities for boosting bilateral trade. It is our duty to take advantage of these opportunities”, he noted, adding that the number of people joining Iran-Britain Joint Chamber of Commerce is now increasing.

In a meeting with Mohsen Jalalpour, the chairman of Iran Chamber of Commerce, Industries, Mines, and Agriculture, in Tehran On August 23, British Treasury Minister Damian Hinds said resuming economic ties with Iran will be a priority for Britain.
 
He said Iran and Britain can be good trading partners for each other.

Trade turnover between Iran and Britain has increased by 25% following a thaw in diplomatic ties between Tehran and London. 

Prior to the Western-led sanctions against Iran in 2011, the Iran-Britain trade was more than €623 million, compared to €256 million in 2012, which further fell to €121 million in the same year due to the escalation of sanctions, according to the Eurostat. 

The figure stood at over €121 million back in 2013. 

However, the two-way trade took an ascending tend in 2014 in the wake of the interim nuclear accord reached between Iran and world powers, touching €152 million. 

Trade between the two countries amounted to €80 million in the first half of 2015, a 9 percent decrease compared to the same period in 2014. 

MA/