TEHRAN (Iran News) Mohammadreza Dehghan Dehnavi, Deputy Minister of Industry, Mining and Trade, told IRNA in Yazd on Saturday night that the implementation of a comprehensive free trade agreement between Iran and the EAEU countries since May 14 of this year has created a favorable environment for boosting exports.

Dehnavi explained that, with the cooperation of provincial chambers of commerce, a series of promotional and educational sessions have been held for Iranian traders to familiarize them with new export opportunities. “So far, these programs have been carried out in 16 to 17 provinces, and statistics clearly show a noticeable growth in exports to Eurasian markets,” he said.

The head of Iran’s Trade Promotion Organization (TPO) noted that this growth is particularly significant given that the country’s overall exports have been on a downward trend. “In the first five months of the current year, the value of Iran’s total exports fell by about six percent. The positive trade performance with Eurasian countries demonstrates the importance of this market,” he emphasized.

While acknowledging that the rate of decline has slowed in recent months, Dehnavi said Iran’s overall export growth remains negative. To address this, the TPO is pursuing a range of supportive and promotional measures, including activating provincial capacities, strengthening export incentives, and expanding outreach efforts. “Eurasian Union”

He added that a two-day nationwide conference on foreign trade, currently underway in Yazd, is part of this broader strategy to take more effective steps toward increasing production and exports.

Dehnavi further highlighted the government’s commitment to easing export procedures. “Facilitating exports is one of our main priorities. We continuously identify obstacles and work to remove them. Coordination among different agencies and addressing existing challenges are central to our agenda,” he said.

Looking ahead, he stressed that the TPO is also seeking new investments to transform the export sector, aiming to ensure sustainable growth based on Iran’s comparative advantages. “With the cooperation of all economic actors, we hope to smooth the path for non-oil export development and increase Iran’s share in global markets,” Dehnavi concluded.

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IRAN NEWS ECONOMIC DESK

TEHRAN – Head of Finance Management for International Affairs of the Export Development Bank of Iran (EDBI) says the third line for transfer of electricity to Armenia will be designed, manufactured, installed and launched in the next six months.

Mr. Kamran Razavi said the third line of electricity transfer from Iran to Armenia will be a dual-400 kilowatt circuit network with the length around 275 kilometers and it will be designed, manufactured and launched along with power transfer stations in the next six months.

He said that the project with the investment around $83m euros has been financed by EDBI in form of buyer’s credit, adding that this unique banking tool has been only offered by this bank in the national banking system which is considered a strategy for penetration into the export market targets.

Pointing to the launch of the project of the third line for transfer of electricity to Armenia, Razavi said the project with the budget around $83m euros has been financed by the bank and it will come on stream in six months.

He added that finance in form of buyer’s credit is one of the successful methods of financing by the banking system in the current condition, adding that buyer’s credit is one of the basic facilities whose technology is in hands of famous Exim banks in the world and in Iran, and, EDBI is the only bank in Iran which offers such a service, in line with its duty of supporting the exports and easing the process for trade exchange in the macro-economic level, to the banks and foreign buyers of Iranian goods and technical and engineering services.

Rezavani added that in fact EDBI has implemented one of the methods common in the advanced countries as well as conventional and normal facilities which dominate the national banking system which is mainly aimed at financing the exporters.

He then pointed to the trend of signing the contract for this project, adding that due to strategic economic ties between Iran and Armenia especially Armenia’s position in link of Iran’s electricity network to Eurasian and European countries, this project is very important and was signed between EDBI and its Armenian counterpart.

He reiterated the project for transfer of Iran’s electricity to Armenia guarantees Iran’s electricity exports to other Eurasian Union states and it is an important step in winning the export markets in this region.

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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.

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IRAN NEWS ECONOMIC DESK

TEHRAN – Spokesman to Iran Customs Administration Seyed Ruhollah Latifi says Iran’s exports to Eurasian Union states have been $1.24b in 11 months this year and the total trade with those states is around $2.5b.

Latifi yesterday said that Iran’s exports in 11 months this year have exceeded $1.24b while the figure was $550m in the same period last year and it indicates 105 percent growth.

On the importance of trade with Eurasian Union states, he said that the whole members of the union have noticeable economic indexes, adding that the union ranks first in extracting oil which accounts for 14.5 percent of value of the resources in the world. He went on to say that the union also ranks first in gas production with producing 20.2 percent of global gas production.

Latifi noted that the union members also rank 4^th, 3^rd and fourth in producing production of electricity, railway line, and iron production, respectively. He reiterated that Eurasia also ranks fifth in the world in terms of producing steel.

He further said the total GDP of those member states stands at 4.7 trillion with an area over 20m square meters and population more than 184m.

He said these indexes encourage Iran to boost its foreign trade with this big bloc. Three members of the union like Russia, Kazakhstan and Armenia are neighbors with Iran as Russia and Kazakhstan have marine borders and Armenia has land border with Iran and those countries’ annual imports are around $400b.

Latifi reiterated that Iran’s exports in 11 months this year have grown 105 percent and reached $1.24b.

He said Russia is the major destination for Iran’s exports as the country’s exports to Russia have been around $387m and Armenia and Kazakhstan are the next major destinations for Iran’s exports in the union.

He further said fresh apple, LNG, pistachio, kiwi, cucumber, fermented cucumber, dried grape and orange are the major exported goods to those states.

Latifi also pointed to the volume of imported goods from Eurasian Union states, adding that the volume of imports from those countries in 11 months has been around 2.8m tons while the figure was 1.2m tons in the preceding year. He added that the value of imports from those states is $1.2b which shows a little drop comparing the same period in the preceding year.

He said sunflower oil, meat, wheat, cereals and barley have been the major imports from those states. He also pointed to the free trade agreement between Iran and Eurasian states, saying that according to the agreement which came into effect in November, 380 items of goods can be traded with certain tariffs.

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