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IRNA

Iran, EAEU may sign free trade zone deal by yearend

The Eurasian Economic Union (EAEU) has completed a substantive discussion of all the provisions of an agreement to set up a free trade zone with Iran so that the document can be signed by the end of 2023, according to Andrey Slepnev, the EAEU minister of trade.

Trade

Iran, Iraq agree to extend gas contracts in 5 years

Noting that Iran and Iraq have two gas export contracts in place, the Iranian Oil Minister Javad Owji says that the two neighboring countries have agreed to extend the contracts in the next five years.

Energy

Iran oil production up 40k bpd in Q1

The US Energy Information Administration (EIA) in a report announced on Friday that Iran’s oil production has increased by 40,000 barrels per day in the first quarter of 2023, adding that the country ranks second in terms of oil production growth among members of Organization of the Petroleum Exporting Countries (OPEC).

Energy

Iran’s oil output unchanged at 2.65mn bpd in March

Iran’s oil output in March remained unchanged at 2.65 million barrels per day (bpd), compared to the previous month, according to the International Energy Agency (IEA).

Energy

Iran determined to ditch US dollar in trade: CBI governor

De-dollarization is a strategic policy pursued by the Central Bank of Iran (CBI), says CBI Governor Mohammadreza Farzin.

Financial Markets

Iran’s petroleum output does not match reserves: Minister

Iran’s current oil and gas production does not match the country’s recoverable reserves, Iranian Oil Minister Javad Owji has said.

Energy

Iran’s foreign trade hits $6.7 billion in month to late April

Iran’s trade exchanges with different world countries reached $6.7 billion in the first month of the current Iranian calendar year (March 21 – April 20), according to figures by the country’s customs office.

Trade

Transit through INSTC more than quadruples

The International North-South Transit Corridor (INSTC) has witnessed a whopping surge in cargo transit after its marine route via the Caspian Sea became operational by Khazar Sea Shipping Lines Company (KSSLC), according to the company’s managing director.

Transportation

Iran, Russia banks set to link messaging systems: Ambassador

Iranian Ambassador to Russia Kazem Jalali has said that Iran and Russia have begun pilot linking of their banking messaging systems and will finalize the scheme soon.

Financial Markets

Iranian minister acknowledges resumption of trade ties with Riyadh

Iran and Saudi Arabia have seemingly resumed trade ties after a thaw of diplomatic relations between the two countries, Iranian Minister of Industry, Mine, and Trade Reza Fatemi Amin said on Tuesday.

Trade

Iran Chamber of Commerce, Industries, Mines and Agriculture

Established in 1884, Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) is a non-profit and non-governmental institution which aims at facilitating economic growth and development in the country. Iran Chamber tries to further coordinate the activities of the private sector. As an economic forum, representatives from both the government and the private sector attend Iran Chamber's sessions. Meanwhile the institution acts as an advisory body to the government, parliament and judiciary.

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