TEHRAN, Sep. 30 (MNA) –  Iran's exports to the Eurasian Economic Union (EAEU) increased by 16% in the first five months of the current Iranian calendar year (March 20-August 21), the Islamic Republic of Iran Customs Administration (IRICA) reported.

Mohammad Rezvanifar said the Islamic Republic exported 2.2 million tons of commodities worth $748 million to the members of the Eurasian Economic Union in the mentioned five months.

Exports to the EAEU also increased by 35 percent in terms of weight, according to Rezvanifar.

Meanwhile, Iran imported 3.9 million tons of goods valued at $1.6 billion from the members of the Eurasian Economic Union in the said five months.

Iran and EAEU reached a preferential trade agreement in 2018, based on which about 862 commodity items are currently subject to preferential tariffs. The agreement came into effect on October 27, 2019.

Late on December 25, 2023, the two sides also signed a Free Trade Agreement (FTA) during the EAEU Summit in St. Petersburg, Russia.

AMK/TT