Iran›s export to Eurasia increases 10%

The value of Iran’s export to the Eurasian Economic Union (EAEU) member countries rose 10 percent during the first eight months of the current Iranian calendar year (March 21-November 21), as compared to the same period of time in the previous year, the Islamic Republic of Iran Customs Administration (IRICA) reported.

The IRICA report put the worth of Iran’s export to the mentioned countries at $1.46 billion during the said eight-month period.
The official statistics indicate that Iran’s trade with the Eurasian Economic Union has followed an upward trend in recent years. According to the IRICA report, the value of trade between Iran and member countries of this union has risen from $2.5 billion in the past to nearly $5 billion currently. This growth is a clear sign of the positive impact of implementing Iran’s preferential trade agreement with the Eurasian Economic Union, and forecasts suggest that under current conditions, this trade value could be assessed at up to $20 billion.

The implementation of this agreement, which entered its operational phase in May, has created new opportunities for boosting Iran’s trade with the five member countries of the Eurasian Economic Union. Iran’s free trade agreement with Russia, Kazakhstan, Belarus, Armenia, and Kyrgyzstan has laid the groundwork for facilitating the export of goods, reducing tariffs, and increasing the competitiveness of Iranian products.

Experts believe that this agreement will not only strengthen Iran’s export capacities but will also lead to the development of stable, long-term economic relations between Iran and the member states of the Eurasian Economic Union.