66% Increase in Denmark's Exports to Iran

The Danish ambassador in Tehran stated that exports from this European country to Iran increased by approximately 66% from the beginning of 2015 to the end of May 2016. Danny Anan, who was speaking with the online publication 'Ava Diplomatic' in Tehran, described the bilateral trade between the two countries as flourishing and expressed hope that both countries would continue to benefit from these relations. Last summer, after extensive negotiations with global powers, Iran was able to reach an agreement on its nuclear program, which also led to the lifting of some international sanctions against the country. This event resulted in the resumption of trade relations between Iran and Western countries and the signing of memorandums and commercial contracts worth billions of dollars. However, the Danish ambassador in Iran noted that the two countries had positive and progressive relations even before the lifting of nuclear sanctions, as there were 'many meetings at the ministerial level during the sanctions period, and the Danish Foreign Minister visited Tehran.' According to him, the two countries have diverse economic relations, with the pharmaceutical industry holding the largest share, accounting for 54% of Denmark's exports to Iran. Mr. Anan mentioned the pharmaceutical company Novo Nordisk, the largest drug manufacturer in Denmark, which has invested around '80 million' in its affiliated Iranian company. Nevertheless, he stated that there are still some obstacles regarding banking exchanges between the two countries. He remarked, 'Although we all wish to have broader economic relations, it is essential to note that only a few months have passed since the lifting of sanctions, and some banks have not yet completed all their investigations. This process is time-consuming, and I believe that by the end of the year, we will witness much better developments.' The difficulty in re-establishing banking exchanges between Iran and other countries is a contentious issue, with Iran blaming the United States for it and accusing the country of obstructing international banks' trade with Iran contrary to the nuclear agreement. Washington has consistently denied this accusation.