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Iran and Serbia plan to develop trade ties

Business Materials 11 May 2021 12:02 (UTC +04:00)
Iran and Serbia plan to develop trade ties

TEHRAN, Iran, May 11

Trend:

Iranian officials and Serbia's Foreign Minister have discussed the development of trade ties, said the head of the Europe and America office in Trade and Promotion Organization of Iran(TPO).

Serbian Foreign Minister Nikola Slokovich's visit to Iran during the current situation is positive for relations of the two countries. Development of trade ties between the two countries was among the topics that were emphasized and capacities of the two countries were discussed, Mohammad Reza Karimzadeh told Trend in an interview.

"Important issues including evaluation and identification of potentials and the two countries focusing on them, planning to sign a preferential trade agreement and free trade agreement, focusing to use various mechanisms to develop trade barter relations, using capacities to trade with third countries and using capacities of free zones," he added.

"Carrying out precise reviews to reach operational articles to approve in joint commission summit and holding meetings between various economic groups virtually during a pandemic, using the capacity of embassies of the two countries to have access to a framework for cooperation are other plans that could provide help to the development of cooperation," Karimzadeh noted.

The 25 years Iran –China cooperation accord and Iran agreement with Eurasia Economic Union were also discussed during the Serbian Foreign Minister's visit.

Iran and Serbia's trade relation has increased from $20 million in 2014 to $52 million in 2018. The trade declined to $24 million in 2020.

Iran's export to Serbia has mostly included plastic products, fruits, steel and metal products, oil and mineral products, and glass while Iran imported machinery, technical equipment, grain, electronic auto parts, home appliances, and metal tools from Serbia.

Iran's export to Serbia was $3.9 million in 2014 that gradually increased to $42 million in 2018 and then $16.6 million in 2020 while the country's import from Serbia in 2014 was $15.9 million that declined to $9.7 million in 2018 and slide to $7 million in 2020.

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