BAKU, Azerbaijan, July 19
By Elnur Baghishov – Trend:
Iran plans to export $5 billion worth of products to the United Arab Emirates in the current Iranian year (began March 20, 2020), said Director General of Trade Promotion Organization (TPO) of Iran’s Arabic-African Affairs Office Farzad Piltan, Trend reports citing the organization.
The director said that if global and bilateral trade turnover normalizes, Iran's exports to the UAE may increase in the current Iranian year compared to last Iranian year (March 21, 2019 - March 20, 2020).
He added that Iran exported about $4.5 billion worth of products to the UAE in the last Iranian year.
According to Piltan, the foreign trade of Iran and the UAE has averaged $12 billion in recent years. Thus, 40 percent of it accounted for Iranian exports and 60 percent for Iranian imports.
Piltan noted that Iran exported 3.37 million tons of products worth $967 million to the UAE during the first three months of current Iranian year (March 20-June 20, 2020). Iran's share in the UAE market was 15.2 percent in three months.
The director stressed that this figure shows an increase of 8 percent in terms of value and 39 percent in terms weight compared to the same period last Iranian year. Iran exported products worth $895 million in the same period last Iranian year.
"In three months, watermelons worth $19 million and tomatoes worth $18.4 million were exported to the UAE. These products were the main exported products," he said.
The value of Iran's foreign trade amounted to $13.9 billion during the first three months of the current Iranian year.
Iran's exports amounted to 21.9 million tons worth $6.36 billion, which shows a decrease by 43.98 percent in terms of value compared to the same period last Iranian year.
During the reporting period, Iran imported 8.92 million tons of products worth $7.62 billion. Imports of products decreased by 26.86 percent in terms of value compared to the same period last Iranian year.