BAKU, Azerbaijan, July 27
By Elnur Baghishov – Trend:
The trade turnover between Iran and the Eurasian Economic Union amounted to $2.41 billion since the implementation of the temporary trade memorandum (October 27, 2019) to June 20, 2020, Trend reports citing Trade Promotion Organization of Iran.
According to the report, the trade turnover between Iran and the Eurasian Economic Union increased by 14 percent compared to preceding similar period.
While in the preceding period this figure was $2.11 billion.
"Iran exported $681 million worth of products to Eurasian Economic Union member states from October 27, 2019 to June 20, 2020. The exports increased by 17 percent compared to preceding similar period. In the preceding period, Iran's exports to member countries amounted to $578.8 million," the report said.
During the same period, Iran imported $1.73 billion worth of products from EAEU member countries. The products import shows an increase of 13 percent compared to the preceding period. Thus, the value of Iran's imports in the preceding period amounted to $1.53 billion, according to the report.
A temporary trade memorandum was signed between Iran and the EEU on October 27, 2019. In accordance with the memorandum, 862 kinds of products will be imported and exported upon preferential tariffs between the two sides.
Iran will export 502 kinds of products and import 360 kinds of products. Iran will export pistachios, kiwi, oil products, raisins, cucumbers, cabbages, dates, medicines, cement, copper, methanol.
Iran will import barley, animal feed, vegetable oil, cathode, etc.
The value of trade turnover between Iran and EAEU reached $1.78 billion from October 27, 2019, to April 25, 2020. During this period, 1.34 million tons of products worth $539 million were exported to the union, and the largest share (53 percent) was exported to Russia.