MILAN, Italy — October 15, 2016 — Iran has historically been a primary trading partner for Italy’s textile machinery industry. Indeed, international sanctions have blocked the flow of textile machinery exports to Iran, and it is hoped that the recent nuclear agreement may pave the way toward a competitive relaunching of the local textile industry. To consolidate its presence in Iran, ACIMIT (the Association of Italian Textile Machinery Manufacturers) will participate in the Italian trade mission in late November.
Iran’s textile industry boasts an ancient tradition, with a very high number of manufacturers operating in a variety of different sectors along the production chain (from spinning to finishing). International sanctions in recent years have delayed the modernization process necessary for the local industry to remain competitive globally. The agreement reached on 14 July concerning Iran’s nuclear talks with the P5+1 countries (United States, Russia, China, Great Britain, France and Germany) and the government in Teheran, opens the door to a resumption in investments in textile technology by Iran.
To seize these new opportunities, ACIMIT, the Association of Italian Textile Machinery Manufacturers, will participate in the Italian trade mission from November 28-30, promoted by the Italian Ministry of Economic Development and Ministry of Foreign Affairs, and organized by the Italian Trade Agency.
“Italian textile machinery producers boast consolidated business relations with Iran’s textile manufacturers. In 2014, the flow of imports of textile machinery to Iran resumed, albeit not with the same intensity as prior to the application of international sanctions,” comments Raffaella Carabelli, President of ACIMIT.
In 2004, Iran was actually the fourth largest market for Italian exports in the sector. After years of complete stagnation, in 2014 exports to Iran returned to growth figures, from €5 million for the previous year to €14 million euros. “In the meantime,” explains Carabelli, “market shares for China and Turkey increased, to the detriment of Countries such as Italy, who have complied with the rules set by the international community. Now’s the time to return to invest our energies on the Iranian market, in order to recover lost time, starting with the business mission in late November.”
This renewed commitment in Iran will be made possible above all thanks to the support of the Italian Ministry of Economic Development and Italian Trade Agency, with which ACIMIT has already planned a roadshow for 2016, with the aim of promoting Italian textile technology in Iran’s major textile producing areas.
Posted October 23, 2015
Source: ACIMIT