Aug 14, 2021, 9:32 AM
Journalist ID: 1195
News Code: 84436195
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Infrastructure improvement required for trading with neighbors

Tehran, IRNA – The head of Iran-Russia Commerce Chamber said that Iran needs to improve its infrastructure in order for trading with neighbors.

In an interview with IRNA, Hadi Tizhoush Taban said that the highest share of foreign trade in the world is done with neighboring countries because the nearness decreases shipping distance and time, which leads to reduction in trade costs and cheaper products.

Precise schedule for maritime and aerial transportation and reduced regulation in trading can facilitate foreign trade and improve infrastructure, according to Tizhoush.

He underlined that member states Eurasian Economic Union (EAEU) have great capacity for trade and Iran can meet many of their demands, but it needs to stick to commitments and update decisions.

Tizhoush criticized that banning export of certain goods without prior notice would hurt foreign companies’ confidence in Iranian exporters.

Iran has exported 258 million dollars of goods to Eurasian countries in the second quarter of 2021 and imported 347 million dollars of goods in this period.

Russia has the greatest share in Iran’s trade with Eurasia with 135 million dollars in exported goods.

Armenia with 60 million dollars, Kazakhstan with 38 million dollars, Kyrgyzstan with 18 million dollars, and Belarus with 5 million dollars are in the next places in Iran’s export destinations in Eurasia.

Fruits, pistachio, plastic material, vegetation, cast iron, iron and steel have been the main exported goods.

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