TEHRAN - According to Eurostat data, trade between Iran and the European Union reached €4.15 billion in the first 11 months of 2024, marking a 3% decrease compared to the same period last year. Of this amount, EU exports to Iran accounted for €3.37 billion, reflecting a 4% decline, while Iran's exports to Europe grew by 5%, reaching €773 million.

TEHRAN - Masoud Barahman, the head of the Iran-Africa Joint Chamber of Commerce, spoke with ILNA about the ongoing challenges and opportunities in trade between Iran and the African continent. He highlighted issues related to shipping, financial transactions, necessary bank guarantees for participating in tenders, and the lack of direct flights to Africa, which continue to complicate trade relations.

Iran Airtour, a private airline, is launching direct flights from Tehran to Paris, despite Western sanctions targeting the country’s aviation industry.

TEHRAN – During the meeting of the Iranian Chamber of Commerce's tenth term representative council, Head of the chamber Samad Hassanzadeh, the president of the chamber, addressed key issues facing the nation's economy, particularly regarding electricity supply and international trade.

TEHRAN - According to a joint report by the Iran-South Korea Chamber of Commerce, Iran's non-oil exports to South Korea surged 180% in 2024, reaching $8.609 million, while South Korea's exports to Iran fell by 11% to $142.631 million.

Russia’s second largest bank, VTB, has said it is scheduled to convert its Tehran office into a branch.

TEHRAN - The Commercial Counselor of the Islamic Republic of Iran in Afghanistan announced an 84% increase in trade and commercial exchanges between Iran and Afghanistan in 2024 compared to 2023, highlighting the ongoing growth in bilateral trade over the past two years.

TEHRAN - A 20-year strategic agreement between Iran and the Russian Federation was signed on Friday, January 18, during a visit by Iran's president to Russia. The treaty is aimed at enhancing bilateral economic relations and includes a range of initiatives to boost joint investments, facilitate banking relations, support national currency transactions, and foster cooperation in the transportation and energy sectors. It also establishes a customs corridor for smoother trade between the two countries.

TEHRAN - In recent weeks, reports of foreign companies, such as Saudi Arabia's Savola Group, the UAE's Majid Al Futtaim, and the European company LLC, exiting the Iranian market have raised concerns. While some view these departures as indicative of Iran's struggles in retaining foreign investment, Hossein Salimi, head of the Iranian-Foreign Joint Investment Association (IFJIA), dismissed such claims in an interview with ILNA.

TEHRAN - The Iranian Chamber of Commerce has voiced its support for the government’s logical and principled policies, particularly under the 14th administration, emphasizing the positive economic outcomes of resolving the Financial Action Task Force (FATF) issue and expressing its readiness to collaborate with the government. This has led to significant developments in this area.