Iran-EAEU Archives - Iran News Daily

Trade between Iran, EAEU rises 33% in 9 months yr/yr

mahla — Sat, 29 Jan 2022 12:09:03 +0000

TEHRAN (Iran News) – The value of trade between Iran and the members of the Eurasian Economic Union (EAEU) reached $2.2 billion in the first nine months of the current Iranian calendar year (March 21 – December 21, 2021), to register 33 percent growth compared to the previous year’s same period, according to the data released by the Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA).

The TCCIMA report put the weight of Iran-EAEU trade in the mentioned nine months at over 4.9 million tons, the TCCIMA portal reported.

According to the mentioned data, Iran exported 2.1 million tons of products worth $878 million to the EAEU members in the period under review, with a 6.7 percent rise in value, and a three-percent increase in weight.

Iran’s imports from the block exceeded 2.9 million tons worth $1.3 billion in the mentioned period, to register a 44.7 percent rise in value, and a 12 percent growth in weight, compared to the same period in the previous year.

Iran’s trade balance with all Eurasian countries except Russia was positive in the mentioned period and compared to the same period last year, Iran’s trade balance with Russia, Armenia, and Belarus weakened while with Kyrgyzstan and Kazakhstan the balance improved.

Iran’s top exported item to the EAEU union was pistachio with $99 million worth of exports, and the top imported commodity was Vegetable products.

Iran and Eurasian Economic Union reached a free trade agreement in October 2018 based on which about 862 commodity items were subjected to preferential tariffs.

The interim agreement enabling the formation of a free trade area between Iran and the EAEU was signed on May 17, 2018, and officially came into force on October 27, 2019.

Iran is a very important market in the region and the development of ties with this country is of high significance for the EAEU members (Russia, Belarus, Armenia, Kazakhstan, and Kyrgyzstan).

The free trade agreement between Iran and this union has laid the ground for the expansion of trade ties between the two sides.

The agreement with the bloc has increased Iran’s exports to the EAEU member states significantly, which is a turning point for the Islamic Republic’s plans for boosting non-oil exports during the U.S. sanctions.

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Iran-EAEU trade up 93% in 4 months yr/yr

mahla — Mon, 30 Aug 2021 10:42:54 +0000

TEHRAN (Iran News) – The value of non-oil trade between Iran and the members of the Eurasian Economic Union (EAEU) exceeded $1.6 billion in the first four months of the current Iranian calendar year (March 21 – July 22) to register 93 percent growth compared to the previous year’s same period, IRNA reported.

According to Hossein Kakhaki, director-general of the International Cooperation Department of the Islamic Republic of Iran Customs Administration (IRICA), Iran exported over $385 million worth of commodities to the EAEU members in the period under review, 46 percent more than the figure for the previous year’s same period.

During the said four months, the Russian Federation with $188.926 million, Armenia with $83.043 million, Kazakhstan with $53.395 million, Kyrgyzstan with $24.294 million, and Belarus with $6.578 million of imports were the top destinations for the Iranian exports to the EAEU, according to Kakhaki.

Iran’s imports from the block hit $1.252 billion in the mentioned period, the official said.

Russian Federation with $1.062 million, Kazakhstan with $178.722 million, Belarus with $8.29 million, Armenia with $2.239 million and Kyrgyzstan with $216,000 were the top five sources of Iranian imports.

Iran and Eurasian Economic Union reached a free trade agreement in October 2018 based on which about 862 commodity items were subjected to preferential tariffs.

The interim agreement enabling the formation of a free trade area between Iran and the EAEU was signed on May 17, 2018, and officially came into force on October 27, 2019.

Iran is a very important market in the region and the development of ties with this country is of high significance for the EAEU members (Russia, Belarus, Armenia, Kazakhstan, and Kyrgyzstan).

The free trade agreement between Iran and this union has laid the ground for the expansion of trade ties between the two sides.

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Trade of Iran, EAEU Increases by 6%

reporter 1222 — Thu, 15 Oct 2020 05:11:42 +0000

TEHRAN (Iran News) – Trade between Iran and the members of the Eurasian Economic Union (EAEU) increased by six percent during (October 27, 2019-August 21, 2020), compared to the same period in the previous year, data released by the Trade Promotion Organization (TPO) showed.

Based on the TPO data, Iranian exports to the mentioned union increased by 21 percent, while the imports had a one percent rise, IRNA reported.

Iran exported $823.9 million worth of commodities to the EAEU nations in the mentioned period compared to the $679.8 million in the same period of time last year.

As reported, Russia had the highest amount of imports from Iran among the five Eurasian Economic Union member states during the period under review and the lowest exports were made to Belarus.

Meanwhile, most imports came from Russia and the least from Kyrgyzstan, the data indicated.

According to the Islamic Republic of Iran’s Customs Administration (IRICA) data, Iran’s trade with the members of the Eurasian Economic Union during the first five months of the current Iranian year (March 19-August 21) stood at $2.791 billion, up six percent compared to the same period last year, in which the figure stood at $2.635 billion.

The agreement enabling the formation of a free trade area between Iran and the EAEU was signed on May 17, 2018, and officially came into force on October 27, 2019.

This agreement, which has laid the ground for the expansion of trade ties between the two sides, consists of two commodity lists, including the preferences granted by the Eurasian Economic Union to Iran (504 items) and the preferences granted by Iran to that union (390 items). These preferences are in the form of tariff reductions or tariff fixations (no tariff increase for the other party) in the base year.

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Iranian CEO: AFZ to Host Meeting of EAEU Ambassadors

reporter 1222 — Tue, 04 Aug 2020 06:11:55 +0000

TEHRAN (Iran News) – The next meeting of the ambassadors of the Eurasian Economic Union (EAEU) member states will be held in Aras Free Zone (AFZ) in the northwestern Iranian province of East Azarbaijan.

This was announced by Managing Director of Aras Free Zone Organization Mohsen Nariman in a meeting with Iran’s Deputy Foreign Minister for Economic Affairs Gholamreza Ansari on Monday, IRNA reported.

Nariman said the meeting is aimed at expanding Iran’s interactions as well as economic and trade relations with the countries of the Eurasia and Caucasus regions.

In an address to the same meeting, Ansari said AFZ is Iran’s only gateway to the markets of the members of the EAEU and Commonwealth of Independent States.

He stressed that it is necessary to increase non-oil export-oriented interactions and trade transactions with these countries using AFZ’s capabilities, capacities and potential.

AFZ plays a major role in and has a good geographical position for trade with the EAEU states, Ansari said.

Noting that Armenia is the only EAEU member having common land border with Iran, the deputy minister called for using this opportunity to introduce the route passing through Armenia as the road for transit of Iranian products to the union’s member states.

According to figures by Iran’s Trade Promotion Organization (TPO), during October 2019-June 2020, trade between Iran and the EAEU members witnessed an increase of 14 percent, compared to what it was in the same period of the preceding year.

The increase was achieved despite the outbreak of the coronavirus pandemic and the drop in global trade.

The first meeting of Iran-EAEU trade taskforce, which was set up to expand trade between the two sides after they inked a preferential trade agreement in October 2019, was held online on July 8.

The meeting was attended by Hamid Zadboum, the TPO’s head, and Iranian Ambassador to Russia Kazem Jalali, as well as other officials from Iran and the EAEU member states.

Speaking at the meeting, Zadboum said, “We are trying to remove the obstacles to boosting bilateral trade through cooperation.”

Having an annual trade of over $800 billion, the EAEU member states play a significant role in the global trade, he noted, adding Iran attaches great importance to the expansion of trade with these countries.

Zadboum said annual trade between Iran and the EAEU member countries currently stands at over $2 billion, which can be increased to $5 billion in the short term and $10 billion in the long run.

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EAEU: Tariffs on 10 Iranian products removed

reporter 1222 — Mon, 13 Apr 2020 07:26:03 +0000

TEHRAN (Iran News) – The Eurasian Economic Union (EAEU) has removed tariffs for the import of 10 Iranian products, according to the head of the Iranian National Union of Agricultural Products.

“The Eurasian Economic Union (EAEU) in a letter sent to the Trade Promotion Organization of Iran (TPOI) said it hs removed the import tariffs for 10 Iranian products,” the Head of Iranian National Union of Agricultural Products Reza Nourani said.

These products, subjected to import tariffs by the Union, including potatoes, onions, garlic, cabbages, carrots, peppers, fruit juices, wheat, black grains, long-grain rice, and baby food, he added.

Removing tariff rates for Iranian products by Eurasian Economic Union while the country is under sanctions and grappling with the outbreak of coronavirus will increase export and production, Nourani emphasized.

Turning to the required infrastructures, Nourani said, “refrigerated containers should be added for increasing export. Unfortunately, we lack refrigerated containers for rail export and/or these refrigerated containers should at least be purchased or rented by Russia and Turkey.”

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11 months trade with EAEU worths $2.5bn; Iran says

reporter 1222 — Tue, 10 Mar 2020 14:03:47 +0000

TEHRAN (Iran News) – Iran’s foreign trade value with member states of the Eurasian Economic Union (EAEU) hit $2.5 billion in 11 months of the current Iranian calendar year (from March 21, 2019, to Feb. 19, 2020).

Spokesman of the Islamic Republic of Iran Customs Administration (IRICA) Seyyed Rouhollah Latifi made the remarks on Tue. and put the value of trade products exported from Iran to EAEU member states in 11 months of the current year at $1,244,536,210, showing a significant 105 percent growth as compared to the last year’s corresponding period.

He further noted that $550,410,009 worth of products were exported from Iran to EAEU’s member states in 11 months of the previous year (from March 21, 2018, to Feb. 19, 2019).

Turning to the volume of products imported from Eurasia, he said, “over 2,811,228 tons of products, valued at $1,204,379,026, were imported into the country in 11 months of the current year.”

Elsewhere in his remarks, Latifi pointed to the provisional Free Trade Agreement (FTA) inked between Iran and Eurasian Economic Union (EAEU) and added, “under the Agreement, which has been put into effect on Oct. 27, 2019, a number of 380 tariffs’ codes have been agreed between the two sides for transacting goods.”

He pointed out that doing trade and business with EAEU’s member states has paved suitable ways for domestic traders, producers and those who are active in economic activities in the country.

Presently, the five countries including Russia, Belarus, Kazakhstan, Armenia, and Kyrgyzstan are members of the Eurasian Economic Union (EAEU) but this Union has expressed its readiness to cooperate with more than 40 countries and international organizations for doing business within the framework of the Union, Latifi added.

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Armenia relations with Iran ready to boost: envoy

reporter 1222 — Thu, 05 Dec 2019 08:32:10 +0000

TEHRAN (Iran News) – Armenia is ready to provide the grounds for bolstering its economic relations with Iran, says the Armenian ambassador to the Islamic Republic.

In a meeting with East Azarbaijan tradesmen, Artashes Toumanian stressed that his country is ready to help promote ties between the Eurasian Union and the Iranian businessmen, particularly the traders of East Azarbaijan province, which borders Armenia.

The envoy noted that the move comes in line with Armenia’s efforts to keep global standards in its economic relations and supporting business people.

Information technology, agriculture, technical and engineering services, renewable energies, pharmaceutical, tourism, hotel industry, and gas sector are among the areas of cooperation, he added.

Iranian companies can export their products to the Eurasia market without any customs fees through transferring their production to Armenia, he said.

Referring to the establishing of the Iran-EAEU trade office in Armenia, he announced his country’s readiness to invest $ 1 million in the project.

The Armenian official further invited ICCIMA head to attend the meeting of the chairmen of EAEU member states’ chambers of commerce to be held in Armenia in May 2020.

Referring to the good political relations between the two countries, Gholam Hossein Shafei, for his part, said that despite cultural proximity, the existence of numerous agreements and extensive political ties, the amount of exchanges and joint ventures between Iran and Armenia is limited.

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Energy Minister Hails Iran-EAEU Free Trade Agreement

reporter 1222 — Sun, 02 Dec 2018 10:30:58 +0000

Iranian Energy Minister Reza Ardakanian said with the coming into effect of a free trade agreement with the Eurasian Economic Union (EAEU), bilateral trade between Iran and the EAEU member states would be facilitated.

Speaking at a meeting with Chairman of the Eurasian Commission Tigran Sargsyan in Moscow on Thursday, Ardakanian emphasized that the recent agreement to establish a free trade zone between Iran and the EAEU countries will be seriously pursued by the Iranian parliament.

He further expressed the hope that with the implementation of the deal, the grounds would be provided for the increase of bilateral trade between the Islamic Republic and the EAEU five member states, including Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan.

Sargsyan, for his part, hailed the free trade agreement and stressed the determination to remain committed to the deal.

The agreement, signed in Astana on May 17, 2018, sets the main rules of trade between the EAEU, Iran and those of the World Trade Organization (WTO), which Iran is not a member of.

It is intended for a period of four years, under which the EAEU will grant Iran tariff concessions on 502 harmonized commodity codes.

The Eurasian Economic Union includes Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. Iran and EAEU members started to develop the agreement on the free trade in 2015, though the signing has been postponed several times.

The agreement enters into force 60 days from the date of receipt of the last written notice of completion by the member states of the EAEU and Iran of the internal procedures necessary for its entry into force.

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