Officials from Iran and Turkey explore mechanisms to achieve the target of $30 billion in trade.

TEHRAN - In a recent statement, Mousa Aqaee, the head of the Iran-Uzbekistan Joint Chamber of Commerce, highlighted the persistent challenges posed by sanctions and banking issues, asserting that as long as these obstacles remain, Iran cannot take significant strides in foreign trade. The remarks were reported by the Iranian state news agency IRNA, citing the Chamber of Commerce, Industries, Mines, and Agriculture of Iran.

TEHRAN - In a meeting with Switzerland’s Secretary-General of Health, Barbara Schedler, on the sidelines of the 68th annual session of the United Nations Commission on Narcotic Drugs in Vienna, Hossein Zolfaghari, Iran’s presidential representative and Secretary-General of the Anti-Narcotics Headquarters, declared that despite Iran’s significant efforts and achievements in combating drug trafficking, the country continues to face selective, political, and unjust treatment from certain nations, particularly in the West. The statement was reported by Iran’s ILNA news agency.

TEHRAN - In a significant step toward deepening bilateral relations, the President of the Kerman Chamber of Commerce, Seyed Mehdi Tabibzadeh, met with Uzbekistan’s Ambassador to Tehran, Fariddin Nasriev, to discuss expanding economic, cultural, and tourism cooperation between Iran and Uzbekistan. A key highlight of the meeting was the proposal to establish a sister-city relationship between Kerman, a historic city in southeastern Iran, and Samarkand, one of Uzbekistan’s most iconic cultural hubs.

TEHRAN - A high-level Iranian trade delegation, led by Gadir Ghiafeh, Vice President of the Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA), concluded a significant visit to Poland aimed at strengthening economic ties between the two nations.

Iran has started gas production from a first infill well in its largest gas field in the Persian Gulf amid efforts to boost supply from the field to respond to a growing demand for energy in the country.

TEHRAN - Nader Bazrafshan, President of the Tehran Gold and Jewelry Union, revealed in an interview with ILNA that Iran’s gold production has declined by 20 to 30 percent this year due to a combination of rising global and domestic gold prices, inflation, and reduced purchasing power among the public. He contrasted Iran’s meager gold exports of just 875 kilograms with Turkey’s impressive 700 tons exported between 2022 and 2024, attributing Turkey’s success to substantial government investment in the sector.

TEHRAN - The head of Iran’s Fisheries Organization announced that the country is prepared to deepen its collaboration with the United Nations Industrial Development Organization (UNIDO) to enhance tuna fishing practices and bolster both domestic and export markets for tuna products.

TEHRAN - Iran's economy is showing signs of a deepening recession, according to the latest Purchasing Managers' Index (PMI) data released by the Iran Chamber of Commerce Research Center. The overall PMI for the economy in month of Bahman 1403 (January 21–February 19, 2025), after seasonal adjustment, stood at 46.4, marking its third consecutive month below the 50 threshold that separates expansion from contraction. This figure reflects a slight worsening from January’s 46.6, underscoring a persistent economic downturn that began in Azar (November–December 2024).

TEHRAN - Oil Minister Mohsen Paknejad announced on Saturday that the signing of a $17 billion pressure boosting contract for the South Pars gas field marks a "rebirth" for the country’s largest gas reservoir. The landmark agreement, formalized during a ceremony attended by President Masoud Pezeshkian and oil industry leaders at the International Oil Industry Conference Center in Tehran, aims to secure Iran’s energy future and counter production declines in the shared field.