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Iran declares its trade turnover with Eurasian Economic Union

Business Materials 15 October 2020 09:44 (UTC +04:00)
Iran declares its trade turnover with Eurasian Economic Union

BAKU, Azerbaijan, Oct.15

By Elnur Baghishov – Trend:

The value of trade turnover between the Iran and the Eurasian Economic Union (EAEU) amounted to $2.79 billion since the implementation of the interim trade memorandum between two sides (from October 27, 2019 to August 21, 2020), Trend reports citing Trade Promotion Organization of Iran (TPOI).

According to the report, this is an increase of 6 percent compared to the preceding period (from October 27, 2018 to August 21, 2019).

“Thus, this figure amounted 2.63 billion in the preceding period,” the report said.

According to the report, Iran has exported about $824 million worth of goods to Eurasian Economic Union member countries during the reporting period. The exports increased by 21 percent compared to the preceding period. While in the preceding period, the value of Iran’ exports to these countries amounted $680 million.

Furthermore, the value of Iran imports from EAEU member countries decreased 20 percent over the reporting period compared to preceding period. Thus, the value of Iran’s imports was $1.53 billion in the preceding period.

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.

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