International sanctions have so far blocked the flow of textile machinery exports to Iran. Iran’s textile industry boasts of an ancient tradition, with a high number of manufacturers operating in a variety of different sectors along the production chain from spinning to finishing. Sanctions in recent years have delayed modernisation process necessary for the industry to remain competitive globally. Market shares for China and Turkey increased, to the detriment of countries such as Italy.
Iran has historically been Italy’s primary trading partner for textile machinery. Italian textile machinery producers boast consolidated business relations with Iran’s textile manufacturers. In 2004, Iran was the fourth largest market for Italian exports in this segment. In 2014, imports flow of machinery to Iran resumed, albeit not with the same intensity as earlier. Meanwhile ACIMIT (Association of Italian Textile Machinery Manufacturers) has planned a road show for 2016 in Iran, with the aim of promoting Italian textile technology in Iran’s major textile producing areas.
The agreement reached on July 14 concerning Iran’s nuclear talks with the United States, Russia, China, Great Britain, France and Germany opens the door to the resumption of investments in textile technology by Iran.
