The Federation of Iraqi Chambers of Commerce hosted a Joint Economic and Trade Conference for the Iranian and Iraqi chambers of commerce on Monday, in which the two sides signed a memorandum of understanding (MOU) for establishing an arbitration center for resolving business conflicts.

  A member of the Iran-Belgium Joint Chamber of Commerce says in case the Iranian government decides to import modern and advanced technologies from European companies, the chamber will do its best to participate in the construction boom in Iran.

Ambassador of Brazil to Tehran Laudemar Gonçalves de Aguiar Neto in the meeting with Head of Iran’s Trade Promotion Organization Alireza Payman Pak announced readiness of his country for buying urea and petrochemical products from Iran and called for boosting trade between the two states.

Iranian economy is projected to grow by 2.4 percent in 2022 as oil production and industrial activity rebound in the country, according to the World Bank’s Global Economic Prospects (GEP) report released earlier this month.

The managing director of Customs Organization of western Hormozgan said here that since the beginning of the current Iranian year (March 21, 2021) two million and 49,000 tons of goods worth two $2.775bwas exported to the southern Persian Gulf littoral countries.

Trade volume between Russia and Iran has increased 12 percent in terms of weight and 41 percent in terms of value in the first nine months of this Iranian calendar year (March 21, 2021 to December 21, 2021), according to an Iranian official.

Transit of goods through Iran’s railway network rose over 200 percent during the first nine months of the current Iranian calendar year (March 21-December 21, 2021) to register the highest year-on-year increase over the past 10 years, IRIB reported.

Secretary of Cement Industry Employers Association says the country haس exported 3.2m tons of cement in the first three quarters of the current year which shows 12% decline comparing to the same period last year.

In 2021, Iran saw its exports of fruit and vegetables fall by 6 per cent on the back of a sharp decline in sales to the likes of Iraq, Russia, China and Afghanistan.

The Advisor to President and Secretary of the Supreme Council of Free and Special Economic Zones says the UAE earns some $20b annually for bunker fuel and in fact offering services to the ships and vessels in the Persian Gulf which move towards Fujairah Port and unfortunately major part of the bunk fuel of the UAE is provided by the ships which smuggle fuel from Iran to Fujairah.