Iran holds 25 percent of Afghanistan’s market share

Oil&Gas Materials 22 December 2012 15:24 (UTC +04:00)

Azerbaijan, Baku, Dec. 22/ Trend G.Mehdi/

Iran currently holds 25 percent of Afghanistan's market share, unchanged from 2006, ISNA quoted Reza Tofiqi Zavareh, the deputy director of the Iranian Trade Promotion Organization, as saying.

Afghan traders say that the depreciation of Iranian currency compared to the dollar, shutting down of financial transactions with Iran and limitation of money transfer to Iran to $20,000 created obstacles for money transfer to Iran, Afghan Business News Portal said.
According to the reports, trade balance between Afghanistan and Iran reached $1 billion and 300 million last year.

However, the sanctions imposed against Iran, exports from Iran to Afghanistan have declined by 56%.

The decline in exports has resulted in an increase in prices in Afghan markets, where most of the goods fall to Iranian-imports.

Earlier in December, Iran's Oil Ministry signed an agreement with Afghanistan's Ministry of Commerce and Industry for the annual export of one million tons of Iranian oil products.

According to the contract, Iran is expected to export products including gasoil, jet fuel and gasoline to Afghanistan.

Iran exported about $9 billion of oil products including base gasoline, diesel fuel, fuel oil, kerosene, and jet fuel to various countries during the first 10 months of the previous Iranian calendar year (ended March 19, 2012).