Iran trade Archives - Iran News Daily

Iran Trade With EAEU States Falls by 3% Last Year

mahla — Mon, 09 Aug 2021 05:36:03 +0000

TEHRAN (Iran News) – Iran’s trade with the Eurasian Economic Union (EAEU) members stood at $3.4b last year which shows 3 percent decline comparing to the preceding year.

The fourth meeting of the national work group on regulations in the field of Eurasia was held at Iran’s Chamber of Commerce, Industry, Mine and Agriculture (ICCIMA) and was chaired by head of the international affairs department of ICCIMA Mr. Mohammad Reza Karbasi.

In the meeting, Iran has not successful experience in taking advantage of the regional trade agreements and these agreements have not ever had any important place in the country’s trade diplomacy while a country like Turkey is member of several regional trade agreements and bilateral and multilateral agreements.

He went on to say that signing the preferential trade agreement between Iran and EAEU as a new experience in the regional trade cooperation has this capacity that in case of the government support and active presence of private sector in the country’s foreign trade, it can bring considerable changes in the future.

Karbasi noted that according to the statistics released by Iran’s Custom Administration, the value of Iran’s trade with the Eurasian Economic Union member states stood at $3.4m last year which shows 3 percent decline comparing to the preceding year.

He went on to say that the total imports of Iran from EAEU states was $2.358b last year which shows 0ne percent growth comparing to the preceding year while in the same period, exports to these countries faced 3 percent decline.

Karbasi went on to say that Iran’s exports of the items from the list of preferential items to Eurasia hit $1.487b last year which indicates 22 percent decline comparing to the preceding year.

He also warned the exporters to the EAEU states of observing all regulations and urged them to export good quality goods to those countries. He also said that exporters should consider the needs of their target destinations and to avoid exporting more than the market’s needs because it has had huge political and economic cost for the country.

Karbasi also said that those exporters and companies which do not observe the rules and commit offences should be dealt properly in order to avoid heavy cost of their offences.

He reiterated that the chamber is ready to annual the business cards of the offender economic activists who present false information and data.

Then the participants in the work group explored ways to remove hurdles in way of trade with EAEU states.

In July, Iran held the first exclusive Eurasian Economic Union (EAEU) exhibition which was a platform to showcase the capabilities of the EAEU members and their Iranian counterparts.

In addition to Iranian companies, 30 companies from Russia, 30 companies from Kyrgyzstan, more than 10 companies from Armenia, over 10 companies from Kazakhstan, and companies from Belarus have participated in the exhibition.

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Iran Trade With P5+1 Slumped by 19% in Past 4 Years

mahla — Tue, 18 May 2021 05:56:31 +0000

TEHRAN (Iran News) – Iran Trade With P5+1 Slumped by 19% in Past 4 Years. The spokesman of Islamic Republic of Iran Customs Administration (IRICA) says some 38.6m tons of goods worth $24b were traded between Iran and the P5+1 countries last year that Iran’s share of exports to those countries is 28m tons and worth of $9.83b while the country’s imports stood at 10.54m tons worth $14.16b which shows 14 and 19 percent slumps in terms of weight and value.

According to ILNA, touching upon on the exports of Iranian goods to the P5+1 states, Seyed Ruhollah Latifi said that last year Iran exported 26.95m tons of goods worth $9.07b to China which accounted for 96 percent of Iran’s total exports to the P5+1 states in terms of weight, and 92 percent in terms of value.

He added that before the U.S. pullout of the JCPOA, China by purchasing 35.13m tons of goods worth $9.1b was Iran’s top trade partner which accounted for 98 percent of Iran’s total exports in terms of weight and 91 percent in terms of value.

He added that this notion that the U.S. pullout from the JCPOA could reduce the share of the U.S., UK, France, Russia and Germany in favor of China and Russia is not right because Iran’s exports to China have also declined last year by 8m tons but it soared $50m in terms of value.

Latifi went on to say that Russia was the second destination for Iranian goods with 1.05m tons in weight and $504m in value which accounts for 3.7 percent of Iran’s exports in terms of weight and 51.1 percent in terms of value which shows 100 percent growth in terms of weight and 72.5 percent in terms of value comparing to the pre-U.S. withdrawal from the JCPOA.

He noted that Iran’s exports to France last year were 2,911 tons valued at $8.76m, and the amount of exports to the UK was 7,293 tons and worth of $13m, to Germany were 39,197 tons worth $233m which all indicate Iran’s exports to these countries have slumped comparing to the post-JCPOA.

On the exports to the U.S., he said that 4 years ago and before the U.S. pullout of the JCPOA, Iran’s exports to the U.S. were around 3,554m and worth of $132.3m that the figure fell to 66m tons and worth of $136,539 last year.

On the imports from the P5+1 countries, he said Iran’s total imports from those five countries stood at over 10.5m tons worth of $14.1b. He added that the value of the imports last year slumped by 29 percent comparing to the pre-JCPOA era due to the country’s policy of banning imports of the luxury goods.

Latifi added that last year China with exporting 3.5m tons of goods to Iran was the major exporter to Iran. Its value stood at $9.8b which accounted for 33.7 percent of Iran’s total trade with those six countries

He added that despite increasing the weight of exports to Iran, Germany’s exports to Iran slumped by 40 percent in terms of value.

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Rouhani Calls on Trade Partners to Honor Commitments

reporter 1222 — Wed, 14 Oct 2020 13:30:54 +0000

TEHRAN (Iran News) – Iran’s president called on the friends and trade partners to honor their commitments to bring a good image among the Iranian people.

In an address to a Wednesday session of the cabinet, President Hassan Rouhani was briefed on the results of the recent visits by Foreign Minister Mohammad Javad Zarif and Governor of the Central Bank of Iran Abdolnasser Hemmati to China and Iraq to release Iran’s assets.

Hailing the positive results of the missions for unfreezing the country’s financial resources held abroad, the president called on the friendly states and the trade partners to honor their legal and moral commitments to prevent the Iranian public opinion’s pessimism about the future of relations with those countries.

On Tuesday, Rouhani said Iran has stepped up efforts to use its foreign currency reserve assets frozen in other countries despite the US pressures.

Hemmati said on Monday that his negotiations with the Iraqi officials have yielded “positive” results, as the Arab country has given its approval to the release of Iran’s frozen assets for the purchase of basic commodities.

The top Iranian banker held meetings with Iraqi Prime Minister Mustafa al-Kadhimi, Governor of the Central Bank of Iraq Mustafa Ghalib Mukheef, and Chairman of Trade Bank of Iraq (TBI) Salem Jawad Abdul Hadi Al-Jalabi during his visit to Baghdad.

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Iran Trade May Shrink Day by Day

reporter 1222 — Wed, 27 May 2020 22:09:36 +0000

Iran Trade May Shrink Day by Day

IRAN NEWS ECONOMIC DESK

TEHRAN – Chairman of Iran-China Chamber of Commerce says if the current condition continues in the world economy, in the upcoming months shortage of forex resources will show itself sharply and Iran’s trade will shrink day by day.

Speaking to ILNA, Mr. Majid Reza Hariri said that Iran’s exports to China have fallen by about 50 percent in the past four months.

He further said, “New data from China’s customs administration show that Iran’s trade with China has fallen 34 percent.”

Noting that this is an important event for both countries, he added that the outbreak of coronavirus was the major factor and that’s why world trade has likely to decline 25-30%.

“If this trend continues, our exports and trade with the world, as well as trade with China, will shrink sharply but its ratio will be more than 30 percent.”

He noted that global oil prices have fallen sharply over the past seven months and said “China mainly imports oil from Iran and the drastic fall in oil prices has been the main reason for the devaluation of Iran’s exports to China during this period.”

Iran’s exports to China totaled $1.81 billion in the Q1 2020, indicating a 52.7 percent year-on-year decrease.

In return, China exported $2.13 billion worth of commodities to Iran during the period under review, up by 15.9 percent year-on-year.

Iran and China have had a long history of cultural, political, and economic exchanges along the Silk Road since at least 200 BC, and possibly earlier. To this day, China and Iran have developed a friendly economic and strategic partnership.

Approximately 80 percent of China’s total imports from Iran are oil and the rest is the mineral and chemical products.

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Rouhani calls for resumption of cross-border trade with Iraq

reporter 1222 — Tue, 19 May 2020 03:55:42 +0000

TEHRAN (Iran News) – President Hassan Rouhani on Monday called for the resumption of cross-border trade exchanges with Iraq while observing the health regulations following a hiatus in the wake of the coronavirus outbreak.

Iran and Iraq “must try to restore the trade exchanges to the previous course in full conformity with the health instructions along the entire borders,” Rouhani told his Iraqi counterpart, Barham Salih, in a telephone conversation Tasnim News Agency reported.

Rouhani also expressed hope that the joint plans by the two neighboring countries would raise the level of bilateral economic ties.

He gave assurances that Iran’s principled policy entails the enhancement of cooperation and relations with Iraq in all fields.

“The Islamic Republic of Iran will stand by the Iraqi government and nation like the past, and calls for the protection of Iraq’s sovereignty and non-interference from foreign powers in the fate of (Iraq’s) nation and government,” Rouhani said.

Congratulating his Iraqi counterpart in advance on the occasion of Eid al-Fitr which marks the end of the holy month of Ramadan, Rouhani expressed satisfaction with the fact that the political processes in Iraq have yielded positive results, all Iraqi groups and tribes have joined hands, and the new Iraqi government has been formed after being approved by Parliament.

“Political stability in Iraq is important for the region, and this process will be surely a prelude to the restoration of Iraq’s prominent role in the region,” the Iranian president said.

The region is currently struggling with a host of problems, such as plummeting oil prices, the coronavirus pandemic, security challenges, and, above all, US interference in the internal affairs of the countries, he said.

“The promotion of relations and cooperation between the friendly governments and nations in all fields could help overcome the problems.”

For his part, the Iraqi president tendered congratulations on Eid al-Fitr, hailed the level of ties between Baghdad and Tehran, and stressed the need for the officials of the two countries to push for the expansion of relations in various fields.

Highlighting the significance of bilateral political relations, Salih said, “Stability and security in Iraq require cooperation from the friendly and neighboring states, particularly the Islamic Republic of Iran.”

Salih pointed to the political efforts and activities for bringing various Iraqi groups, parties, and tribes together to elect a new prime minister.

“Ensuring Iraq’s sovereignty and supremacy is an undeniable necessity that must be recognized in making decisions about the future of this country.”

“Foreign powers must not interfere in deciding the fate of this country,” the Iraqi president underlined.

Deploring the destructive acts of interference from the outsiders in the region, he said, “The Middle East region cannot withstand new crises so that the interference from the aliens in the region must end immediately.”

Iraq’s new Prime Minister Mustafa al-Kadhimi took office on May 6 after the Iraqi Parliament approved a new government following nearly six months of political wrangling.

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Last year approved foreign investments worths $854m; Iran

reporter 1222 — Sun, 19 Apr 2020 06:15:41 +0000

TEHRAN (Iran News) – Iran approved 82 projects worth $854 million in the previous Iranian calendar year, ending March 19, for implementation in domestic industrial, mining and trade sectors with foreign investments.

According to last year figures by the Ministry of Industry, Mine and Trade pertaining to foreign investments in domestic projects, of the total number of registered companies willing to implement the 82 plans, 33 percent entirely consist of foreign stakeholders and 48 percent is shared by domestic and foreign partners, IRNA reported.

Statistics show that the industrial sector accounted for 98 percent of the investments, the mining sector had a 12 percent share and 1.88 percent pertained to the trade sector.

In addition, the highest amounts of investments were made in plans in provinces of Zanjan (northwestern Iran), Khorasan Razavi (northeastern Iran), Kermanshah (western Iran), Hormuzgan (southern Iran) and the capital Tehran, respectively.

Investors willing to take part in the projects of these provinces have been from the UAE, the Netherlands, China, Turkey, and Germany.

Investors from India and Hong Kong have shown greater interest in investing in the domestic mining sector’s projects, such as extracting and processing magnesite and producing nepheline and syenite concentrate.

Investments in the trade sector have been mostly in projects including the construction of restaurants, web- and software-based goods registration and production of leather handicrafts.

The largest amounts of investments in the trade sector in this period pertained to the production of tobacco, foodstuffs, and beverages, non-metallic minerals, chemicals, coke and oil byproducts, respectively.

In addition, Afghanistan, with 14 plans, accounted for the highest number of approved projects, followed by Turkey (13), China (11), the UAE (six), Austria (six), Iraq (five) and India (five).

Khorasan Razavi Province (20 projects) was the main target of investments followed by provinces of Tehran (11) and Qazvin, East Azarbaijan and Khuzestan, each with five projects.

Moreover, provinces of Zanjan, Khorasan Razavi, Kermanshah and Hormuzgan accounted for 54 percent of the total approved foreign investments.

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IME trade worth $3.4b in January

reporter 1222 — Mon, 03 Feb 2020 05:32:49 +0000

TEHRAN (Iran News) – Iran Mercantile Exchange, IME, announced that 2.87 million tons of commodities, valued at over $3.39 billion, were traded in its domestic trading and export halls during January.

In January, on the domestic and export metal and mineral trading hall of IME, 1.69 million tons of various products worth close to $1.65 billion were traded, according to ime.ir.

At this trading hall, 1.09 million tons of steel, 17,750 tons of copper, 20,940 tons of aluminum, 660 tons of molybdenum concentrate, 60 tons of precious metal concentrate, 39,960 tons of zinc ingot and 10 tons of lead ingot, as well as 87kg of gold bullion were traded.

Also, 543,118 tons of bitumen, 280,982 tons of polymer products, 149,505 tons of chemical products, 5,595 tons of insulation, 6,018 tons of base oil, as well as 55,685 tons of sulfur were traded.

The IME was set up on September 20, 2007, in accordance with Article 95 of the new law of Securities Market of the Islamic Republic of Iran following the merger of agricultural and metal exchanges of Tehran. The merger marked a new chapter in Iran’s capital market, providing many trading opportunities for customers both at home and abroad.

Economic and industrial sectors benefit from the exchange. The IME currently offers various services, such as performing as the first market providing access to the initial offering of the listed commodities in the IME; price discovery and price making for Iran’s over-the-counter (OTC) trade; secondary markets and end-users; providing a venue for government sales and procurement purchases; providing a trading platform and user interface; providing clearing and settlement services; risk management; technology services; and training market participants.

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Iran tops trade surplus in 9 months

reporter 1222 — Wed, 01 Jan 2020 08:23:14 +0000

TEHRAN (Iran News) – Iran exported $31.9 billion worth of goods during the nine months of the current Iranian year (March 21-Dec. 21), said the chairman of Trade Promotion Organization of Iran, which compared with imported goods we see a surplus.

Hamid Zadboum said on Monday that $31.8 billion of goods were also imported into the country during the same period.

“Iran registered a trade surplus of $100 million during the nine-month span,” he added.

Referring to the big capacities of the country’s neighbors for increasing exports, Zadboum said, “According to TPO studies, Iran’s 15 neighboring countries imported about $1.16 trillion of non-oil commodities in 2018.”

He underlined the free trade agreement with the Eurasian Economic Union, saying, “Three of the mentioned 15 neighbors, namely Russia, Armenia, and Kazakhstan, are part of Eurasia and next year, when the free trade negotiations begin, we can make up to 85 percent of our trade with these countries under the free trade deal.”

China, Iraq, Turkey, United Arab Emirates (UAE), and Afghanistan are among the top export destinations of Iranian products, while China, UAE, Turkey, India, and Germany are mostly the five major exporters of goods to Iran.

Iran plans to launch 15 mega export projects to identify more target markets, according to TPO’s former head.

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Trade with Austria to Broaden; Iran says

reporter 1222 — Wed, 04 Dec 2019 07:00:18 +0000

TEHRAN (Iran News) – Head of Alborz Chamber of Commerce, Industry, Mines and Agriculture Rahim Banamolaei described an appropriate bridge playing an essential role in bolstering Iran trade relations across Europe, would be Austria.

In a meeting with Austrian Ambassador to Tehran Stefan Scholz accompanied by Australian commercial attaché in Tehran, Banamolaei said Austrian activists have welcomed the joint investment to produce halal food and exports of such products under national and international brands and to expand Iran trade with Austria.

Partnership with foreign production units is to help resolve the problems in the production process and upgrade production unit machinery while playing an active role in the market presence, Banamolaei said.

Referring to ample untapped tourist attractions in Alborz, he said there are the needed facilities to attract Austrian health tourists in the province.

“Alborz province is ready to render more tourism services in industrial, medical and historical sectors to Austrian citizens,” he added.

The head of the Alborz Chamber of Commerce highlighted the beauty of the Alborz highlands as a popular attraction for sports and leisure.

“Alborz province welcomes the investment of Austrian companies in promoting tourism infrastructure, including the construction of suitable hotels and recreational facilities,” he said.

In relevant remarks in July, Scholz had underlined the necessity for protecting the nuclear deal, saying that Tehran should be able to benefit from its economic advantages.

“Iran enjoys this legal right to use the economic benefits of the nuclear deal and there is no doubt about this fact,” Scholz told FNA in the Northern city of Semnan.

He stressed his efforts to pave the ground for the Iranian and Austrian companies’ cooperation through his visits to different provinces of Iran.

“We hope that friendship between the two countries’ people will deepen and lead to the development of relations,” Scholz said.

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Iran’s foreign trade boosts by close coop with EAEU

reporter 1222 — Mon, 02 Dec 2019 07:58:33 +0000

TEHRAN (Iran News) – Iranian Energy Minister Reza Ardakanian highlighted the importance of the country’s closer cooperation with the Eurasian Economic Union (EAEU) and said the union provides a big opportunity to boost the Iran’s foreign trade.

Speaking at an international conference on Iran-EAEU trade held in Tehran on Sunday, Ardakanian expressed hope that the conference would pave the grounds for closer economic ties between the two sides.

“The formation of the EAEU is a good example of regional cooperation and with its expansion, the grounds for convergence of regional countries are provided more than ever, which will bring more peace and tranquility to the region,” he added.

“The development of trade with the EAEU member states is a great opportunity for (Iran’s) foreign trade, and the two sides need to interact more closely,” the minister went on to say.

Minister in charge of Customs Cooperation of the Eurasian Economic Commission (EEC) Nurlan Akmatov and Veronika Nikishina, Minister in charge of Trade of the Eurasian Economic Commission (EEC) also participated in the international conference.

In June, the Iranian parliament ratified an agreement that allows the administration to join a free trade zone with the Eurasian Economic Union (EAEU) countries.

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

The free trade zone is planned to be in effect for four years, under which the EAEU will grant Iran tariff concessions on more than 500 items.

Russia’s State Duma and the Federation Council had ratified the agreement to establish Iran-EAEU free trade zone in November 2018.

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 was postponed several times.

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