TEHRAN – The value of nine-month trade turnover between Iran and Britain rose by 19 percent, Tasnim news agency reported on Wednesday citing the European Union's statistics agency Eurostat.

According to the report, during the first nine months of 2016 the two countries exchanged some €144 million worth of goods versus the last year’s €121 million.

Britain accounts for 1.5 percent of Iran’s total €9 billion trade with 28 European countries in the nine-month period.

Britain has exported €102 million worth of commodities to Iran during the mentioned time span registering a seven percent increase compared to 2015’s €95 million.

Meanwhile, January-September imports of Britain from Iran also witnessed a significant growth recording a 61 percent increase considering this year’s €42 million versus 2015’s €26 million.

Earlier in November British Trade Minister Liam Fox said that trade is growing between Britain and Iran and the British government is working to resolve banking sector concerns which are limiting the two countries’ trade expansion.

"Slowly but with increasing enthusiasm, British companies are starting to do business with Iran again ... we are seeing the first signs of growing trade between the UK and Iran," Reuters quoted Fox addressing a City and Financial Global conference in London.

EF/MA/MG