During these 20 years we have built a strong bond of friendship between our governments and peoples.

This bond is informed by the similarities of our struggle. South Africa-Iran relations date back to pre-1994 and to a period when the Islamic Republic supported South Africa’s liberation movement by severing relations with the apartheid regime in 1979 and by imposing a trade boycott.

In January 1994, in recognition of South Africa’s new independence, Iran lifted all trade and economic sanctions against South Africa and re-established diplomatic relations on May 10, 1994. This ushered in a period of prolific trade between our countries which was unfortunately interrupted by the imposition of sanctions against Iran.

There are many South African companies interested in trading with Iran but find it very complicated due to their inability to freely transfer funds between the two countries due to the sanctions. As a result, South African exports to Iran declined from R1.5bn in 2007 to R162m in 2013.

Source: The New Age

Author: Maite Nkoana-Mashabane

Available: http://www.thenewage.co.za/128992-1127-53-Analysis_SAs_built_a_strong_bond_with_Iran