An Iranian official has ruled out petrochemical exports to the US, saying the country nevertheless has the American market under watch.

�Due to high transportation costs from the Middle East to North America, Iran�s petrochemical products exports to the US are not economically viable,� Iranian Petrochemical Commercial Company (IPCC) Executive Director Mehdi Sharifi Niknafs said on Friday.

There are better markets for Iran�s petrochemical products elsewhere, while �America itself is regarded among the biggest petrochemical producers�, he said.

�We have no plans for exports to America and received no request. However, we are studying and examining the American petrochemical market,� Sharifi Niknafs added.

Asia and Europe have a higher priority for Iran which is looking to revive its traditional markets and find new clients after the removal of sanctions, he said.

�With the removal of the sanctions, Europe�s doors will open and our cargoes will set off for that market,� the official said, adding Iran was trying to obtain quotas and preferential rights for its exports to the continent.

Tehran used to send 30% of its petrochemical cargoes to Europe before trade wilted under the sanctions.

Sharifi Niknafs said, �During years of sanctions, big companies took Iran�s place in the European market. Hence, it is difficult to take back our share.�

Nevertheless, Iran will try to reclaim its market share in Europe �in the shortest possible time�, he added.

Iran is also interested in Latin America which has a high demand for petrochemical products despite the distance issue.

�Given the high cost of carriage to South America, we have to go for 'both-ends freight' arrangement meaning we send petrochemical products to the Latin American countries and the vessels bring us necessary products from there.�

By Press TV