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9 April 2022 - 17:58
66% Growth in Iran's trade With EAEU in 12 months

Iran’s trade with the members of the Eurasian Economic Union (EAEU) stood at $5.643 billion in the last fiscal year’s 12months (March 21, 2022-Mar. 21), registering a 66% growth compared with the corresponding period of last year, said the spokesman of Islamic Republic of Iran Customs Administration (IRICA).

According to Iran Customs Administration (IRICA) website, Rouhollah Latifi said here on Saturday that  Iran’s exports hit $1.170 billion, registering a 12% year-on-year rise.

Russia with $583.658 million topped the list of Iran’s export destinations in the Eurasian Economic Union (EAEU), followed by Armenia with $302.343 million, Kazakhstan with $188.866 million, Kyrgyzstan with $78.900 million and Belarus with $16.813 million, added  Latifi in his remarks.

The spokesman of the Islamic Republic of Iran Customs Administration (IRICA) noted that these member states exported $4.472 billion worth of goods to Iran during the same period, registering a 90% YOY rise.

Iran and Eurasian Economic Union reached a free trade agreement in October 2018 based on which about 862 commodity items were subjected to preferential tariffs. 

Iran and the EEU have listed 862 types of commodities in their three-year provisional trade agreement. As per the deal, Iran will enjoy easier export terms and lower customs duties on 502 items and the same goes for 360 items from the EEU member countries.

News Code 193634

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