63% growth in Iran exports to Eurasian countries

Tehran (IP) - The head of the Trade Promotion Organization announced a 63 percent increase in the country's exports to the Eurasian Economic Community member states.

Iran PressIran News: From November 27, 2019, to June 20, 2020, we had $ 383 million exports to Eurasia Economic Community member states, which increased by 63% compared to the same period last year, Hamid Zadboom said.

The head of Iran's Trade Promotion Organization, Zadboom added that Iran imports from Eurasia, which includes the most basic commodities, during this period were $1 billion and 120 million, down 15 percent from a year earlier.

In the first 11 months of the current Iranian year (March 2019 – March 2020), the value of Iran’s exports to the EAEU countries amounted to about $1.245 billion, showing a 105% increase compared to the same period last year, but Iran export volume of products declined in the first four months of the current year (from March 21 to July 22) due to the coronavirus global pandemic.

Exports of all countries in the world were severely affected by the coronavirus global pandemic, even, the export of a country like China decreased significantly due to the outbreak.

In December 2019, the head of the Trade Promotion Organization of Iran Hamid Zadboom said an accord between Tehran and the EAEU countries will turn into a free trade agreement within the next two or three years.

He also noted that 862 goods will be subject to the free trade agreement in the first stage.

The Eurasian Economic Union and Iran started to develop the agreement on the free trade in 2015, though the signing was postponed several times.


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