Iran’s foreign trade with EAEU hit $2.5bn in 11 months: IRICA spox

TEHRAN, Mar. 10 (MNA) – Iran’s foreign trade value with member states of Eurasian Economic Union (EAEU) hit $2.5 billion in 11 months of the current Iranian calendar year (from March 21, 2019 to Feb. 19, 2020).

Spokesman of the Islamic Republic of Iran Customs Administration (IRICA) Seyyed Rouhollah Latifi made the remarks on Tue. and put value of products exported from Iran to EAEU’s member states in 11 months of the current year at $1,244,536,210, showing a significant 105 percent growth as compared to the last year’s corresponding period.

He further noted that $550,410,009 worth of products was exported from Iran to EAEU’s member states in 11 months of the previous year (from March 21, 2018 to Feb. 19, 2019).

Turning to the volume of products imported from Eurasia, he said, “over 2,811,228 tons of products, valued at $1,204,379,026, were imported into the country in 11 months of the current year.”

Elsewhere in his remarks, Latifi pointed to the provisional Free Trade Agreement (FTA) inked between Iran and Eurasian Economic Union (EAEU) and added, “under the Agreement, which has been put into effect on Oct. 27, 2019, a number of 380 tariffs’ codes have been agreed between the two sides for transacting goods.”

He pointed out that doing trade and business with EAEU’s member states has paved suitable ways for domestic traders, producers and those who are active in economic activities in the country.

Presently, the five countries including Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan are members of Eurasian Economic Union (EAEU) but this Union has expressed its readiness to cooperate with more than 40 countries and international organizations for doing business within the framework of the Union, Latifi added.

MNA/4874630

News Code 156564

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