Halimi was in Arak for a two-day visit and meeting with economic activists of the province. On Wednesday and during a joint meeting with the economic activists of Central Province, Head of Arak Chamber of Commerce Asghar Beiki said Malaysia is in good condition for accepting Iranian products and the country’s  geography has caused it to considerable shortage of milk, meat and livestock products and for this reason Malaysia imports almost 90 percent of its needs in the mentioned fields but the country is very capable in producing animal feed.

He went on to say that these factors can pave the ground for strengthening ties between Iran and Malaysia and both countries through a bilateral and win-win agreement can take advantage of this opportunity. He noted that Malaysia with producing some 20m tons of palm oil per year is strong in this filed which can meet Iran’s demands.

Beiki then pointed to the trade volume of Iran and Malaysia last year and said last year Iran exported over $81m of goods to Malaysia and said considering this Muslim’s 32m population, the amount of Iran’s exports to Malaysia is not defendable. He added that Central Province’s share of Iran’s exports to Malaysia in the past year was around $366,000, noting that in return Iran’s imports from Malaysia stood at $287.5m last year.

Beiki then pointed to the amount of trade volume of the two countries in the first five months of the current year and said that Iran has exported some $17.6b of goods while its share of exports to Malaysia was just $33.6m and in the same period country’s imports from Malaysia was $175m.

He then called for holding of such meetings and termed it a way for expanding trade ties with countries. He reiterated if there is a strong determination among producers and exporters of the province, undoubtedly these talks can lead to economic development of the province.

Then Malaysian diplomat Halimi, for his part, explained his goal for visiting the province and said his aim of visiting the capital of industry in Iran was to study ways for restoring trade and increasing the commercial exchanges between the two countries. He added that these relations can be in different fields like exchange of knowledge, knowhow, student, technology and advertisement.

He noted unfortunately due to the sanctions in the past years and problem in financial exchanges as well as the COVID pandemic as two negative and deterrent factors, the trade between Iran and Malaysia has declined considerably.

Halimi reiterated that Malaysia’s determination is focused on boosting trade with Iran and undoubtedly Iranian decision-makers also seek it.

He then pointed to the export capacities of Malaysia and said palm oil is the most important export product of Malaysia as it accounts for 70 percent of its total exports, and rubber, chemical industries and machineries are the other major exports of his country. He then stated sea foods, agro products, processed products, fuel and oil industries are the major imports of his country from Iran.

Halimi expressed his country’s interest for marketing its products in Iran and said of course there are some Iranian products that Malaysia welcomes their purchases. He then highlighted major achievements in his two-day visit to Arak and said the Central Province is full of opportunity, potential and capacity due to the existence of big production units in the province and it can have trade ties with any city and country in the world.

On the investment opportunity in Malaysia, he said last year 11 projects worth of $43m were invested by Iranians in Malaysia and 26 production units in the field of electronics were operationalized by the Iranians. Halimi said that the ground is ready for Iranians to invest in different fields like chemical industries, medical products, hotel and tourism, foodstuff and halal foodstuff.

He termed the Middle East as an important market that Malaysia seeks trade relation with it and Iran’s share for these special ties are upgradable. He called his visit to Arak a beginning point for identifying the capabilities of this industry.

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Hamid Zadboum said the economic cooperation of Iran and Russia in the framework of a temporary preferential trade agreement with the Eurasian Economic Union (EAEU) has led to the rise in the bilateral trade of Tehran and Russia.

He further said due to the high-level political relations of the two countries, both sides should take advantage of it for developing their economic relations. He also said meetings of presidents of the two countries in recent years and in the new chapter of Iran-Russia ties have been unprecedented.

He added that by negotiations and signing a free trade agreement with these countries, the trade will see a growing trend in the next two years, adding that Russia is one of the biggest countries with 145m population and with per capita over $11,000, and it is considered as a target market for Iran’s exports.

He then highlighted major programs of the TPO for the future of the economic ties with Russia, saying that in the near future, the 16th joint economic commission of Iran and Russia will convene and on its sidelines, the sixth joint workgroup on industrial and trade cooperation of the two countries will be held in the deputy minister level.

Then the Head of Russia Desk at the TPO Mr. Farhad Parand explained the significance of Russia for Iran’s trade and pointed to the capacity of the Russian market. He said Russia is considered as one of the most important neighboring countries and an export target of Iran and its climate, geographical, industrial, and mining advantages play an important role in providing the needs of consumers in both countries.

He noted that Iran’s foreign trade with Russia has been over $1.2b in 10 months in the current year.

He also called for the expansion of trade between provinces of the two countries which can enhance bilateral trade.

Parand added that the provinces of Khuzestan, Alborz, Bushehr, Gilan, Mazandaran, West Azerbaijan and Hormuzgan have high capacities for providing Russia with foodstuff, fruits, and fishery products.

He went on to say that the probable increase of sanctions and decline of the oil price makes necessary the expansion of trade ties with Russia.

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IRAN NEWS ECONOMIC DESK

TEHRAN – Head of the Iran Export Confederation says Iran’s foreign trade volume exceeded $42b in first half of the current year as $20.9b accounts for exports’ share.

Speaking in a press conference yesterday, Mohammad Lahooti said that the total foreign trade volume of the country exceeded $42.1b in the first half of the current year, adding that imports’ share of the total volume was $21.2 and the value of exports stood at $20.9b.

He added that Iranian exporters could export 70.09m tons of goods worth over $20.9b and the figure shows 22.5 percent growth in terms of weight comparing to the same period last year but the value of exports dropped by 10.5 percent.

Lahooti added that China was the top destination for Iran’s exports, adding that for a short period Iraq had replaced China as Iran’s top exports destination.

He added that Iran exported goods worth $5.1b to China in first half of the year which accounts for 24% of Iran’s total exports value.

He went on to say that according to Iran’s Customs Administration’s latest report, Iran has exported goods to Iraq worth $4.6 in the first half of the year and 22 percent of total value of Iran’s exports in the first half belongs to exports to Iraq.

Lahooti noted that Turkey is the third destination for Iran’s exports, adding that Turkey has replaced the UAE at the third place for months, adding that the value of exported goods to Turkey was $2.5b which accounts for 12 percent of total value of exports.

Iran Foreign Trade Volume Hits Over $42b

He went on to say that China has been Iran’s top major exports destination for years either in imports or exports, admitting that the trade with China has also declined but the country is still the number one partner.

Lahooti went on to say because of sanctions, India is no longer among Iran’s exports destinations as the country is Iran’s fourth trade partner.

Germany is the only major European trade partner of Iran, he said, adding that Germany stood fifth by the total trade volume of $1.1b.

Lahooti went on to say that the volume of sale of forex resulted from exports has also increased and over 10.3b euros have been sold through NIMA mechanism. He admitted that most of exporters prefer to use the resulted forex from their exports in imports of goods or raw materials.

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