Iran-Eurasia trade reaches $2.6 billion in 9 months

TEHRAN, Aug. 10 (MNA) – Iran and the Eurasian Economic Union trades reached $2.6 billion in the nine months since October 27, 2019 – when the Preferential Trade Agreement (PTA) was inked between Islamic Republic of Iran and Eurasian Economic Union.

“Iran’s exports to the Eurasian countries stood at 1.9 million tons worth $762 million, while its imports amounted to 5.5 million tons worth $1.8 billion tons,” Mehdi Mir-Ashrafi, the head of the Islamic Republic of Iran Customs Administration said.

“Russia, Armenia and Kazakhstan were the three top export destinations of Iran to Eurasia in the period,” he said.

“In turn, Russia with 4.3 million tons of goods worth $1.5 billion and Kazakhstan with 1.1 million tons of goods worth $298 million were top exporters to Iran during the same period.”

Over 95% of Iran’s imports included basic goods and livestock food.

Iran and the Eurasian Economic Union signed a three-year provisional agreement in Astana, Kazakhstan, on May 17, 2018, for the bloc to welcome Iran into EEU.

The arrangement, which lowers or abolishes customs duties, is the first step toward implementing free trade between Iran and the five members of the union.

MR/4995002

News Code 162088

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