BAKU, Azerbaijan, Dec. 22
By Elnur Baghishov - Trend:
During the eight months (March 21-Nov. 21) of this Iranian year (began March 21, 2019), Iran’s exports to Uzbekistan increased by 60 percent in value and 67 percent in weight in comparison with the same period last year, said Hamid Zadboom, deputy minister of industry, mine and trade and chairman of Iran’s Trade Promotion Organization, Trend reports referring to Fars news agency.
Zadboom said that Iran has exported products worth $152 million during the eight months.
The deputy minister added that Iran mainly exported cement, propylene, glass, building materials, plastering equipment and other products to Uzbekistan.
Uzbekistan’s exports to Iran also increased to some extent, Zadboom said. Iran imported cotton, potassium chloride, phosphate fertilizers and beans from Uzbekistan, the deputy minister noted.
“Iran has great potential in the export of petrochemicals, medicines, medical equipment and food to Uzbekistan,” Zadboom said.
The deputy minister added that Iran can also enter Uzbekistan’s water, electricity and construction sectors and can build roads, plants, etc.
Zadboom noted that there are problems in financial and banking transactions between the two countries, and a part of trade is implemented under barter conditions.
“Therefore, the private sector is taking a number of steps towards reducing financial exchange,” the deputy minister said.
Zadboom added that Iran is focused on increasing trade with 15 countries, including India and China, Vietnam, Indonesia and Uzbekistan.
The US imposed sanctions on Iran in November 2018. Iran faced some problems with oil production, export and oil equipment as a result of the sanctions. Iran is taking steps to resolve the problems in oil sector.