Jun 1, 2020, 7:06 PM
Journalist ID: 2374
News Code: 83807740
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Iran foreign trade with Eurasia hits $2.1b

Tehran, June 1, IRNA – Spokesman for the Islamic Republic of Iran Customs Administration said Iran’s foreign trade with Eurasia has reached over $2.112 billion since October 27, 2019.

Rouhollah Latifi said Iran's foreign trade consisted of over $1.528 billion worth of imports and about $584 million worth of exports.

He added that 53 percent of the total trade was based on exemption and preferential trade agreement.

Iran’s most exports included 53 percent to Russia, 23 percent to Armenia, 16 percent to Kazakhstan, and less than 1.5 percent to Kyrgyzstan.

Meanwhile, Iran has imported 75.5 percent from Russia, 18 percent from Kazakhstan, 2 percent from Belarus, and less than 1 percent from Armenia and Kyrgyzstan.

Latifi went on to say that fresh pistachio (14.5%), dried pistachio (11.9%), natural gas (8.1%), Kiwifruit (7.2%), and dried grapes (3%) were among products exported to Eurasia.

He noted that imported goods consisted of barley (27%), wheat (24%), corn for livestock (17.5%), sunflower oil (11%), and lamb carcass (3.5%).

The Eurasian Economic Union (EAEU)  is an economic union of states located in central and northern Asia, as well as Eastern Europe.

The Treaty of the Eurasian Economic Union was signed on May 29, 2014, by the leaders of Belarus, Kazakhstan, and Russia, and came into force on January 1, 2015.

Treaties aiming for Armenia's and Kyrgyzstan's accession to the Eurasian Economic Union were signed on 9 October and 23 December 2014, respectively. Armenia's accession treaty came into force on January 2, 2015.

Kyrgyzstan's accession treaty came into effect on August 6, 2015. It participated in the EAEU from the day of its establishment as an acceding state.

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