Africa presents numerous advantages for Iran when it comes to bartering, according to Yahya Ale Eshag, the Head of the Iran-Iraq Joint Chamber of Commerce. In a recent statement, he emphasized the potential of Africa as a valuable trading partner and urged the exploration of this opportunity to fulfill Iran’s essential needs.
Instead of relying solely on cash payments, Iran proposes a goods exchange system utilizing local currencies as an alternative. Ale Eshaq highlighted the economic benefits that Iran could derive from importing raw materials through barter arrangements with African nations, effectively diversifying its trade and strengthening its economy.
During his visit to Uganda, Kenya, and Zimbabwe, Iranian President Ebrahim Raisi signed several agreements spanning various sectors. Among these agreements, the inclusion of bartering essential goods stands out as a significant development that could facilitate and enhance Iran’s trade relationships.
