Ramaphosa set to strengthen trade ties with Iran

Deputy President Cyril Ramaphosa is reportedly scheduled to visit Iran, where he is expected to rebuild trade ties between the two nations. However, a date has not been confirmed.

According to City Press, Ramaphosa's visit will be another big move in strengthening trade ties between the two countries after the lifting of international trade sanctions against Iran last month. This followed the nuclear disarmament deal the country negotiated with the United States.

Iranian counsellor Mahmoud Soroush said his country hoped that the trade value between the two countries would return to the levels last seen three years ago.

In 2012, before sanctions were imposed, Iranian oil exports to South Africa stood at $3.5 billion.

South African exports to Iran fell from R1.5 billion in 2007 to R250 million in 2014, while its oil imports from Iran fell to $100 million. Soroush said this was a clear indication of the effect of the global embargo on trade relations between Africa and the Middle East.

"We need to work hard to get back to those trade levels before the sanctions. But unlike other countries, the South African government has consistently supported the government of Iran throughout the sanctions period," said Rasethaba.