Sri Lanka welcomes end of sanctions on Iran
The tea industry in Sri Lanka is celebrating the end of economic sanctions on one of its main trade partners, Iran. As the country's tea industry faces international competition and rising production costs, the resumption of direct exports to the former largest overseas market for Ceylon tea represents a big boost for the farmers. While tea exports to Iran were never formally banned, restrictions on banking made the transactions complex and onerous. Now, experts hope trade volumes can double and usher in a new era of cooperation between the two countries.