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June 22, 2009
More US exports to Iran
WASHINGTON - IRAN spent nearly twice as much on US imports during President Barack Obama's first months in office as it did during the same period in 2008, showing that despite trade penalties and tense relations, the two countries are still doing business.

The US exported US$96 million (S$140 million) in goods to Iran from January through April, according to an Associated Press analysis of US government trade data compiled by the World Institute for Strategic Economic Research in Holyoke, Massachusetts.

US exports to Iran totaled US$51 million during the same period in 2008 and US$27 million over those months in 2007.

Soybeans, wheat and medical supplies - all considered humanitarian items exempt from US trade sanctions - are among the top exports this year.

The latest trade figures reflect an increase in Iran's agricultural imports over the past year due to poor harvests there, said Mr Bill Reinsch, president of the National Foreign Trade Council, a business group in Washington.

'I wouldn't read too much into it as far as trends are concerned,' Mr Reinsch said.

Mr Reinsch said he is hearing from more businesses interested in Iran. But beyond an effort by the Obama administration to encourage talks with Iran, he hasn't seen any policy changes that would lead to more opportunities for US businesses.

This year, besides medical and dental supplies and agricultural products such as grain and bull semen, US exports to Iran included about US$154,000 worth of dead horses, pigs and related products, possibly for bone meal; US$87,000 worth of household and toilet articles; about US$25,000 in instant print film; US$8,790 in newspapers; and about US$2,800 in books. The sanctions exempt certain cultural items.

The publicly available government trade data doesn't identify exporters or say exactly what they shipped. The AP requested that information under the Freedom of Information Act in 2005 and is still waiting for the Treasury Department to provide it. -- AP

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