Iran’s non-oil exports up 18% in 10 months: Minister
Iran’s Minister of Economic Affairs and Finance, Abdolnasser Hemmati, has said that Iran’s export of non-oil commodities recorded an 18% growth in the first 10 months of the current Iranian calendar year, which began on March 20, 2024.
Tehran and Baku to Establish Joint Energy Cooperation Task Force
TEHRAN - The Oil Minister has emphasized the expansion of energy cooperation between Iran and the Republic of Azerbaijan, announcing the formation of a joint task force to oversee strategic and technical collaborations.
20% Growth in Trade Between Iran and Azerbaijan in 2024
TEHRAN - The head of the International Affairs Center of Iran's Ministry of Roads and Urban Development announced at the 16th Joint Economic Commission meeting between Iran and Azerbaijan that trade between the two countries reached $580 million in 2024, reflecting a 20% increase from $480 million in 2023.
Iran, Azerbaijan, and Russia to Establish a Powerful Electric Grid
TEHRAN - The Minister of Energy and the Deputy Prime Minister of Azerbaijan have agreed on developing electric connectivity routes and practical implementation methods.
Petrochemical Exports Reach $10.3b in First Nine Months of the Year
TEHRAN - Davood Madadi, Chairman of the Board of the Renewable Energy Association of Iran and Vice President of the Iranian Electricity Industry Federation, emphasized the fundamental role of energy in driving the country’s economy. He stated: "Without electricity, industry cannot function, and the economy cannot progress as planned." It was anticipated that Iran would see an 8% economic growth this year, yet reported figures are around 2.4% to 2.3%. He also pointed out that the country is grappling with a deficit of fossil resources, essential for electricity generation.
Iran’s Exports to Europe Grow by 5%
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.
Iran Imports 30 Tons of Gold from Africa Despite Challenges in Trade Relations
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 resumes direct flights to Europe despite sanctions
Iran Airtour, a private airline, is launching direct flights from Tehran to Paris, despite Western sanctions targeting the country’s aviation industry.
Cash Transactions Unbefitting for Iranian Traders
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.
Iran’s Non-Oil Exports to South Korea Surge 180%
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.