Iran-Eurasia Trade Grows Up 14%

IRAN NEWS ECONOMIC DESK

TEHRAN – The first joint conference between Iran and five Eurasian Union members was held online where participants discussed problems and hurdles in way of their trade agreement.

Head of Iran’s Trade Promotion Organization Hamid Zadboum and Iran’s Ambassador to Moscow Mr. Kazem Jalali were major Iranian officials participating in the web conference.

Addressing the conference, Trade Minister of Eurasian Economic Commission Andrey Slepnev reiterated that some key officials of Eurasia were attending the conference, adding that all were fully aware that the current trade between Iran and the union was not satisfactory.

He pointed to the outbreak of the Coronavirus which caused decline in the trade, noting  but there is a positive view towards trade in the food stuff and agro products and he is witnessing the union’s trade with Iran is on the rise.

Slepnev noted that exports of sunflower seed oil and wheat from Iran to the Eurasian Union states have grown and it indicates that both sides can have appropriate cooperation.

He admitted that undoubtedly Iran’s trade with Eurasian Union countries still faces restrictions and hurdles which have worsened the existing problems for combat with Coronavirus.

He reiterated that the union is determined to solve the problems in way of the trade agreement with Iran.

Meanwhile Zadboum, for his part, expressed his satisfaction that the preferential trade agreement has linked Iran to Eurasian Union and friendly countries and neighbors, adding that in the current toughest condition that the world and especially Iran have been affected by the wrong policies of some countries, this link is source of satisfaction.

He noted that Iran is determined to continue the agreement and expects the union members to expand their cooperation with Iran.

He added that despite the Coronavirus pandemic and lockdown in some countries and closure of the borders, Iran’s trade with Eurasian Union states has grown by 14 percent since the agreement came into effect last November.

Zadboum also called for removing hurdles in way of boosting trade. He asked the union members to prepare trade documents in English as they are currently in Russian in order to resolve some disputes.

He also called for launching a financial workgroup for settling some disputes.

Meanwhile Iranian Ambassador to Moscow Jalali said seven months after implementation of a trade agreement between Iran and Eurasian Economic Union, the trade volume has exceeded $2,417,000,000.

Jalali said 72 percent of trade was related to Iran’s imports from the EEU states and the remaining 28 percent was related to Iran’s exports.

He also referred to the role of the regional coalitions and developing economic ties with neighbors, saying following up this issue is Iran’s principled policy.

We believe that the Iran-Eurasia agreement will result in developing economic relations between Iran and neighbors and will bring about peace.

Participants in the webinar discussed customs cooperation, economic and financial policies of the EEU, implementation of the agreement in health and quarantine fields.