“Of the total $2.112 billion worth of Iran’s trade with Eurasia, over $1.528 billion worth of products are related to imports and exports respectively.” Spokesman for the Islamic Republic of Iran Customs Administration (IRICA) Seyed Rouhollah Latifi said.
Latifi added that 53% of total the mutual trade has been exchanged based on exemption and PTA.
He went on to say that Iran’s exports during the mentioned period included 53% to Russia, 23% to Armenia, 16% to Kazakhstan, and less than 1.5% to Kyrgyzstan.
Meanwhile, Iran imported 78.5% from Russia, 18% from Kazakhstan, 2% from Belarus, and less than 1% from Armenia and Kyrgyzstan in terms of value, Latifi added.
Earlier in May an economic official said that Iran experienced an approximately 70% hike in exports to the Eurasian Economic Union (EAEU) member states since a commercial agreement was inked between the two parties late last year.
Chairman of the Trade Promotion Organization of Iran Hamid Zadboom said on May 12 that the Iranian exports to the EAEU nations amounted a total value of $281.3 million between October 27 (the date of signing the deal), and end of Iranian calendar year on March 19.
Zadboom said the figure indicates a 69.4% surge compared to the similar period in 2018-2019.
The official added that the growth for Iranian exports to the EAEU countries has occurred more in goods and products enjoying lower tariffs, adding that those cargos had a surge in value of 85.6% year on year in late March.
He said agricultural food and rugs continue to dominate Iran’s exports to the EAEU members with pistachio and fruits like kiwi still being very popular among customers despite the fact that some items do not enjoy lower tariffs based on the trade deal signed with the Union.
The official said basic goods and staples accounted for a bulk of Iran’s imports from the Eurasia countries in almost five months after inking the preferential trade deal.
He said Iran applies lower tariff to some 13% of its total imports from the EAEU while the Union considers lower duties for almost half of its imports from Iran.
The EAEU comprises of Russia, Armenia, Kazakhstan, Belarus and Kyrgyzstan.
In relevant remarks on May 3, a Customs official said that six months into the implementation of the Preferential Trade Agreement (PTA) with the Eurasian Economic Union (EAEU), Iran had a trade volume of over 5 million tons with the Union.
“After six-month period since the execution of PTA with EAEU, Iran’s total trade volume with EAEU amounted over five million tons,” Seyed Rouhollah Latifi said on May 9.
Source: Farsnews- Date: (02 June 2020)