Deputy FM: Over 95% of Iran's trade turnover accounts for neighboring countries

Business Materials 22 June 2019 15:01 (UTC +04:00)

Baku, Azerbaijan, June 22

By Elnur Baghishov - Trend:

Presently, more than 95 percent of Iran's trade turnover account for neighboring countries, Iranian Deputy Foreign Minister for Economic Affairs Gulamrza Ansari said.

The remaining share of Iran’s trade turnover accounts for China and India, Ansari added, Trend reports referring to IRNA.

In his words, Iran has joint economic cooperation commissions with 70 countries. He said that the establishment of joint economic cooperation commissions is favorable to boost Iran's economy and trade turnover.

The US is constantly aggravating the situation in Iran by its sanctions. Iran's cooperation with its neighbors should be developed despite these complexities, Ansari added.

According to the Iranian Trade Promotion Organization’s report, from March 21 to April 20, 2019, Iran exported products worth $1.05 billion to 15 neighboring countries and imported products worth $796 million from them.

During the reporting period, Iran exported products worth $711 million to China, while $434 million accounted for imported goods. Iran exported products worth $117 million to India, while $323 million accounted for imported products.

The US imposed sanctions on Iran in November 2018. Since then, the US has expanded the list of the sanctions several times.