News > Iran’s Trade with EAEU Exceeds 5mn Tons

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Iran’s Trade with EAEU Exceeds 5mn Tons

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,” Spokesman for Iran Customs Administration (IRICA) Seyed Rouhollah Latifi said on Saturday.

“Some 5,104,984 tons of products, worth $1,782,577,719, were exchanged between Islamic Republic of Iran and EAEU member states from Oct. 27, 2019 to April 24, 2020,” he added.

In this period, Iran exported 1,344,377 tons of products, worth $539,612,456, to EAEU member states, Latifi said, adding, “of total volume of products exported from the country to EAEU, Russia, Armenia and Kazakhstan had the shares of 53, 23 and 16 percent of Iran’s total export volume respectively.”

He added that 3,760,607 tons of products, worth $1,242,965,263, have been imported to Iran since implementation of PTA between Iran and EAEU.

In relevant event on April 25, Iranian Minister of Industry, Mine and Trade Reza Rahmani said that his country’s membership in EAEU has made good chances for boosting Iran-Belarus commercial and economic ties.

"We must carefully review and resolve the existing obstacles to the broadening of relations," Rahmani said in a meeting with Belarus envoy in Tehran Yuri Ivanovic Lazarcic.

Referring to earlier agreements between the two countries, he said that inking preferential trade agreement between Iran and EAEU member states is a good ground to boost trade relations between the two countries.

“Iran"s membership in the EAEU requires to concentrate on appropriate areas for joint cooperation, and both parties should take steps to build some infrastructure and necessary foundations,” he said.

Source: Farsnews- Date: (03 May 2020)

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