SearchChori moving back into Iran, with chemicals first- Nikkei Asian Review

Chori moving back into Iran, with chemicals first- Nikkei Asian Review...
asia.nikkei.com 23/04/2016 Economy

Keywords:#Arab, #Asia, #Asia.nikkei.com, #Chori, #Emirates, #Iran, #Iranian, #Japanese, #Nikkei, #Tehran, #United_Arab_Emirates


OSAKA -- Trading company Chori is resuming Iranian operations after a three-year hiatus, taking advantage of the end of sanctions with hopes of eventually growing the volume of business beyond the peak hit in fiscal 2008.
As a first step, the Toray Industries subsidiary will market such chemical products as ingredients for automotive paints and adhesives and pool disinfectants to local chemical producers. It will also begin import sales of fabrics made in the United Arab Emirates for a traditional men's garment.
Chori will also work to cultivate demand from other Japanese businesses that are also advancing into Iran now that economic sanctions related its nuclear program have been lifted.
The company trades in textiles, chemicals and other products. It opened a representative office in Tehran back in 1970, which it turned into a unit in 1977. Iranian business peaked at some 3 billion yen ($26 million at current exchange rates) in fiscal 2008 and totaled around 2 billion yen in fiscal 2012.
The economic sanctions imposed on Iran in fiscal 2012 forced Chori to bring its workers home and stop doing business with the country. Before then, it was trading with 30 or so local chemical companies.
(Nikkei)

---OSAKA -- Trading company Chori is resuming Iranian operations after a three-year hiatus, taking advantage of the end of sanctions with hopes of eventu ---
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