TEHRAN, May 02,(Shana) � Iran aims to revive its share of chemical products imported in to the Europe by using Austria as a hub, Managing Director of Petrochemical Commercial Company Mehdi Sharifi Niknafs said on Monday.

Speaking to Shana, he said that the Petrochemical Commercial Company has signed a Memorandum of Understanding with an Austrian delegation on export of petrochemical products to Europe through joint venture.

�We had also negotiations with a group of Pakistani companies on export of chemical products, there,� the official said.

He added that according to the MoU, Austria will become a hub for export of Iranian chemical products to Slovakia, Czech Republic and Bulgaria.

Niknafs referred to the high quality of Iranian petrochemical products and urged Iranian companies to attend the 21th International Oil & Gas and Petrochemical Exhibition (May 5-8, 2016) in order to introduce Iranian products to the world.

The Joint Comprehensive Plan OF action reached between Iran and P5+1 facilitated export of Iran petrochemical products abroad but still there are some problems in case of shipping, insurance and banking transactions, he said.

Niknafs noted that Iran exported 5.5 million tones of petrochemical products at the cost of 3.5 billion dollars at the previous Iranian calendar year (ended March 19, 2016) which shows 35 to 40 percent rise in physical volume of exports in compare to the previous year.

By SHANA