Iran gains full Shanghai Cooperation Organization membership

The Shanghai Cooperation Organization (SCO) has officially approved Iran’s full-fledged membership in the world’s largest regional organization in terms of geographic scope and population.

Iranian steelmakers produce 3.3 million mt of products in May

Iran continued to churn out more steel in May despite a decline in the global steel output as the country moved up three places to seventh in the global ranking of large steel producers, according to figures by the World Steel Association (worldsteel).

Iran-Turkey annual trade up 19% to $12.7 billion

Iran and Turkey experienced a major rise in their bilateral trade over the calendar year to March 20 as shipments rose in value terms despite a fall in volume, according to an analysis of trade figures from the Iranian customs office (IRICA).

Iran, Pakistan likely to ink free trade agreement by March: Official

Iran and Pakistan will start direct talks for a free trade deal in September, according to a senior Iranian trade official who says an agreement may be possible until the end of the Iranian calendar year in March 2024.

Iran’s two-month rice imports down 60%

Figures by the Iranian customs office (IRICA) show that rice imports into the country fell significantly in April-May compared to the same period last year.

Russia private sector says trade with Iran grew to $4.9 billion in 2022

President of Russia’s Chamber of Commerce and Industry (TPPRF) says bilateral trade with Iran rose by a fifth last year.

Iran, EAEU likely to sign free trade pact by year-end: Russia

Dollar drops against Iran’s rial on nuclear deal signals

The US dollar has logged its biggest daily drop in months against Iran’s currency the rial amid stronger signals that an international nuclear deal between Iran and world powers could be revived in the near future.

World Bank expects Iran’s economy to grow by 2.2% in 2023

The World Bank expects Iran’s economy to expand by 2.2% this year despite continued pressure of the US sanctions on the country’s economy.

Iraqi source confirms plan to pay $2.76 bn of Iran’s debts

A source in the Iraqi foreign ministry has confirmed the Arab country will pay $2.76 billion worth its energy debts to Iran as part of a recent understanding with US authorities.