Trade relations with member states of the Eurasian Economic Union (EAEU) will enhance economic exchanges between Iran and third countries, expert says.
Head of the Exports Commission of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Jamshid Nafar told IRNA on Saturday that the Eurasian region can be considered an extraordinary target for development of Iranian export capability.
The current Preferential Trade Agreement is a good opportunity to pave the ground for free trade between the two sides, Nafar noted.
Calling for more attention to the existing level of trade between Iran and the union, he urged that the current import and export levels should be analyzed to pave the way for removal of obstacles in the way of expansion of trade ties.
The EAEU member states are able to provide the Islamic Republic with livestock and poultry feed, he said, adding that Iran can also export food products to the region, which would balance trade exchanges between the two parties.
The head of ICCIMA Export Commission went on to say that exchanges with neighboring countries is among the priorities of President Ebrahim Raisi's administration; so, the process should be speed up.
According to the official, exports to the EAEU member states will enhance Iran's trade capacity and will pave the way for having trade exchanges with third countries.
Iran has exported some $258 million worth of commodities to EAEU member states over the three-month period, importing some $347 million worth of commodities from the union.
Russia has the biggest share of imports from Iran among the EAEU member states, importing some $135 million worth of commodities from Iran during the three-month period, followed by Armenia, Kazakhstan, Kyrgyzstan, and Belarus with 60, 38, 18, and 5 million dollars worth of imports from Iran respectively.
Fruits worth of 95 million dollars have the biggest share of Iran's export to Russia and other Eurasian countries.
Iran imported fats, grains, wood, vegetable and chemical products from the region.
IRICA figures showed that trade with EAEU had accounted for 4.6% of Iran’s total trade in the year to late March.