Iran backs $5bn in Africa investment, calls for strategic trade roadmap
Iran is seeking to expand trade with Africa, with the Export Guarantee Fund of Iran supporting roughly $3 billion in investments across the continent, while the National Development Fund is backing about €2 billion in start-up and entrepreneurship projects, officials said at a seminar on Iran’s Trade Atlas at the Tehran Chamber of Commerce.
Iran-Africa Joint Chamber of Commerce head Masoud Berahman on Monday highlighted Africa’s large population and growing market, noting that the continent offers significant opportunities in goods, technical and engineering services, and investment, IRNA reported.
He stressed that infrastructure, policy planning, and government support are essential for tapping these opportunities.
Berahman also pointed to the absence of a clear trade roadmap. “In the export market, we have faced numerous challenges and need to systematically monitor markets and trade conditions of different countries,” he said.
He urged stronger private-sector participation in economic diplomacy and coordination between the Trade Promotion Organization, the economic diplomacy department, and the Chamber of Commerce. Berahman called for a joint roadmap toward target markets, including Africa, with a focus on high-potential sectors.
Highlighting regional cooperation, he said relying solely on neighboring countries such as Iraq would not yield the desired results and emphasized the need for government-backed strategies. Berahman also underscored the role of trade attachés, noting that countries like Turkey have 44 trade attachés in Africa, while Iran has only three, and called for better use of economic diplomacy tools.
Meanwhile, Taha-Hossein Madani, head of the Smart Governance Think Tank, said Iran’s share of global exports remains low and urged strategies to increase high value-added goods while reducing raw material exports.
“Iran’s share of global trade is 0.37%, approximately $1.2 trillion. Exports to our 15 neighboring countries amount to about $15 billion, which does not reflect their potential,” he said, adding that the production of value-added products and expanding relations could increase Iran’s share.
He also noted that Iran’s exports to Africa remain below $1 billion, despite the continent having over $400 billion in trade. China remains Iran’s largest export destination at $14.85 billion, followed by the UAE.
Madani concluded that, facing trade wars and sanctions, Iran lacks a defined trade roadmap. “Operational programs and focused workstreams are needed to increase Iran’s share globally, adjust trade balances with key countries, and strengthen specialized cooperation among experts,” he said.
The seminar was held at the Tehran Chamber of Commerce as part of the ninth session on Iran’s Trade Atlas initiative.