TEHRAN (Iran News) Speaking to the chamber’s public relations office, Najafi-Manesh emphasized that FATF is an international body with nearly universal membership, except for a few nations. He noted that the organization and its regulatory framework are widely recognized as legitimate and essential for global financial transactions.

Iran’s failure to join FATF has left it on the organization’s blacklist, which has severely impacted its trade and financial exchanges. According to Najafi-Manesh, despite Iran’s membership in organizations like the Shanghai Cooperation Organization and BRICS, other member states expect Iran to comply with FATF regulations to facilitate smoother trade relations.

“As an example, establishing clear and efficient banking relations with China remains a challenge, largely due to FATF-related restrictions. Without joining FATF, even trade with friendly nations will become increasingly difficult, causing Iran to lose out on key economic opportunities,” he explained.

Addressing arguments that Iran could bypass FATF by relying on alternative trade mechanisms, such as barter agreements, Najafi-Manesh dismissed this as unrealistic. He pointed out that these workarounds significantly increase transaction costs—sometimes by 5% to 15%—which translates into billions of dollars in additional expenses for Iran’s economy.

“With an annual financial turnover of around $100 billion, why should we unnecessarily incur an extra $15 billion in costs? Every dollar counts in the current economic climate,” he stated.

Najafi-Manesh also stressed that Iran’s non-compliance with FATF has eroded international trust, discouraging many foreign companies from engaging in business with the country. He argued that by joining FATF, Iran could access global markets with better pricing and product quality, boosting economic efficiency.

He concluded by asserting that, like many private-sector leaders, he believes Iran’s accession to FATF is a necessity. “If we do not align with international regulations, we will not only face additional costs but also lose out on the benefits of global trade. Furthermore, failing to join FATF damages Iran’s global reputation, making it imperative to resolve this issue as soon as possible.”

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TEHRAN (Iran News) Speaking at the 7th Export Capabilities Exhibition, focused on Expo 2025, Dehghan Dehnavi stated that last year, Iran’s non-oil exports reached approximately $50 billion, while imports totaled $67 billion. This resulted in a trade deficit of $17 billion. However, he emphasized that the trade balance has shown signs of improvement this year.

Dehghan Dehnavi described the Iran Expo as a key initiative of the Trade Promotion Organization, providing businesses with a platform to connect and negotiate trade agreements. He highlighted that, despite sanctions, the private sector has played a crucial role in sustaining trade activities and mitigating the impact of restrictions.

“Iran Expo serves as a comprehensive exhibition, encompassing various industries and offering a broad spectrum of business opportunities,” he added. The event aims to attract participants who have the potential to establish trade partnerships with Iran.

According to Dehghan Dehnavi, the exhibition will showcase Iran’s export capabilities, demonstrating the potential of Iranian companies to foreign visitors. This initiative is expected to contribute significantly to increasing non-oil exports.

One of the main goals for the upcoming Expo is to enhance its quality by carefully selecting participating companies. Dehghan Dehnavi stressed the importance of ensuring that exhibitors have the potential to secure international trade deals, ultimately boosting Iran’s non-oil exports.

Turkey’s participation in Iran Expo 2025 was also a key topic. “Turkey has always been one of Iran’s top five trade partners and serves as a gateway to other markets,” he noted. A significant Turkish delegation attended this year’s event, and efforts are underway to strengthen trade relations further. Iranian officials plan to invite both Turkish government representatives and private sector leaders to the next edition of the exhibition.

Discussing the impact of sanctions, Dehghan Dehnavi acknowledged that they have created barriers to trade. However, he praised the resilience of the Iranian private sector, which has actively worked around these challenges and contributed to economic growth.

“The private sector has been the strongest force in countering sanctions. By finding alternative trade routes and strategies, it has kept the country’s economy afloat,” he said. He emphasized that any reduction in sanctions would lower costs and create new market opportunities for Iranian goods.

Regarding Saudi Arabia’s potential participation in Iran Expo 2025, Dehghan Dehnavi stated that Iran seeks to expand trade ties with all countries, except for the Israeli regime. Given the historical, cultural, and geographical ties between Iran and Saudi Arabia, he sees a strong opportunity for trade cooperation.

“The resolution of political differences is progressing, and we will definitely invite Saudi representatives to participate in the upcoming exhibition,” he confirmed.

Majid Takbiri, head of the Iran Expo Organizing Committee, highlighted the significant achievements of the previous event. He reported that the last Iran Expo, attended by traders from 94 countries, resulted in over $3 billion worth of trade agreements.

“Iran Expo has become a strategic event for expanding target markets. It offers transparency in presenting capacities, challenges, and strengths while facilitating direct negotiations between Iranian exporters and international traders,” Takbiri said.

He also noted that the event has evolved into a successful model of collaboration between the government and the private sector. Efforts have been made to invite influential business figures and high-ranking economic officials from around the world. In the last edition, 2,400 business representatives from 94 countries attended, demonstrating the global demand for Iranian products.

Iran Expo 2025 is scheduled to take place from April 27 to May 1, 2025, at Tehran’s Permanent International Fairgrounds. The exhibition will focus on reducing trade costs, facilitating negotiations, and increasing non-oil exports. Given the rising costs of international trade fairs due to currency fluctuations, the event aims to provide a cost-effective platform for Iranian exporters to connect with global markets.

Takbiri highlighted the advantages of Iran Expo, including cost savings for exporters, improved marketing opportunities, and streamlined business negotiations. He also noted that delegations from various regions, including Africa, Latin America, East Asia, and Eastern Europe, attended the previous event and signed multiple trade agreements.

With a strategic focus on boosting non-oil exports, Iran Expo 2025 is expected to play a pivotal role in shaping the country’s international trade landscape.

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TEHRAN (Iran News)  After the implementation of Free Trade Agreement (FTA) inked between Iran and member states of the union, the total of Iran’s trade with five member states of the union reached from about $2 billion to $5 billion, Advisor to the Trade Promotion Organization of Iran (TPOI) for International Affairs Mir-Hadi Seyyedi stated.

It is hoped that the agreement could have an important effect in spurring trade between the two sides, he emphasized.

On the sidelines of the Supreme Eurasian Economic Council’s meeting held on December 25 in St. Petersburg, a Free Trade Agreement was signed between Iran and Eurasian Economic Union member states.

Presently, the Free Trade Agreement (FTA) between Iran and EAEU member states is expected to be finalized and communicated by the end of January 2025.

The temporary agreement on creation of a free trade zone between the EAEU and Iran was concluded on May 17, 2018 and came into force on October 27, 2019.

It is hoped that the agreement could have an important effect in spurring trade between the two sides, he emphasized.

On the sidelines of the Supreme Eurasian Economic Council’s meeting held on December 25 in St. Petersburg, a Free Trade Agreement was signed between Iran and Eurasian Economic Union member states.

Presently, the Free Trade Agreement (FTA) between Iran and EAEU member states is expected to be finalized and communicated by the end of January 2025.

The temporary agreement on creation of a free trade zone between the EAEU and Iran was concluded on May 17, 2018 and came into force on October 27, 2019.

The post Iran’s trade with EAEU member states hits $5 bln appeared first on Iran News Daily.