Iran's trade with Asian-Eurasian countries totals $10 billion

Iran Materials 19 May 2012 14:36 (UTC +04:00)

Azerbaijan, Baku, May 19 / Trend M. Moezzi /

As it prepares to host the first meeting of e-commerce experts for the Economic Cooperation Organization (ECO), a top trade official said Iran does $10 billion in trade with the organization's member countries.

Founded by Turkey, Iran and Pakistan, ECO has 10 member nations with a combined population of 330 million people, the Islamic Republic News Agency (IRNA) reports.

Although $10 billion in trade isn't significant given the size of ECO's market, reforming some processes and greater speed in e-commerce should help increase that number, Hamid Safdel, who heads the Trade Promotion Organization of Iran, said.

Afghanistan, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan are other ECO members. The member countries' share of the global economy is $684 billion.

ECO's goal is an Asian-Eurasian version of the European Union (EU), creating a single market through cooperation and shared goals.

The upcoming conference is scheduled for May 23-25 on Kish Island in Iran's Persian Gulf. The conference's subject is "Facilitating Trade through ECO Cooperation".