Trade volume exchange between Iran, Eurasia hits over $1.4bn in five months

TEHRAN, Apr. 04 (MNA) – Trade volume exchanged between Islamic Republic of Iran and Eurasian Economic Union (EEU) exceeded $1.4 billion after the implementation of Preferential Trade Agreement (PTA) on Oct. 27, 2019.

Spokesman of the Islamic Republic of Iran Customs Administration (IRICA) Seyyed Rouhollah Latifi on Sat. put the trade volume exchange between Iran and EEU in five months after the implementation of PTA at $1,489,232,265.

Of the total trade volume exchanged between Iran and EEU, imports and exports accounted for 67 and 33 percent respectively, Latifi stated.

He said that the Islamic Republic of Iran exported 1,159,479 tons of products, valued at $489,931,955, since the implementation of PTA on Oct. 27, 2019.

In this period, Islamic Republic of Iran imported 2,958,128 tons of products, valued at $999,300,310, he added.

Turning to the export and import volume of products based on PTA, Latifi said, “given the Preferential Trade Agreement (PTA) inked between Iran and EEU on Oct. 27, 2019, and also measures taken in this regard, Iran’s preferential export volume to Eurasian countries hit 123,960 tons, valued at $136,260,229.”

Elsewhere in his remarks, Latifi pointed to Iran’s major export destination to Eurasia and said, “Russian Federation is the major destination of Iran’s exports to Eurasia, so that more than 481,668 tons of products, valued at $248,555,102, were exported from Iran to Russia in this period which accounted for Iran’s more than 50 percent export share value to Eurasia.”

Five Eurasian countries including Russian Federation, Kazakhstan, Armenia, Belarus and Kyrgyzstan are Iran’s trade partners with EEU, IRICA Spokesman Latifi highlighted.

MNA/4891788

News Code 157228

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