Deputy minister: Iran’s trade with Eurasian countries on rise
An official of the Iranian Ministry of Industry, Mine, and Trade expressed cautious optimism about the country’s trade surge with Eurasian Union members, noting a 120% rise over the past two to three years while emphasizing the need for further strategic reinforcement to solidify economic gains.
Mohammad Ali Dehqan Dehnavi, the deputy minister of Industry, Mine, and Trade, said, “Iran’s trade volume with Eurasian Union member states has seen significant growth, increasing by 120% compared to two to three years ago. However, this amount is still not substantial and requires further strengthening,” IRNA reported.
Speaking to reporters on Thursday, Dehqan Dehnavi added, “Currently, Iran’s trade volume with Eurasian Union members is less than $5 billion, but political relations between the two sides are improving, and there is strong mutual interest in expanding economic ties.”
Iran and the Eurasian Economic Union (EAEU) member states — comprising Russia, Kazakhstan, Kyrgyzstan, Belarus, and Armenia — are about to launch a landmark zero-tariff free trade agreement on May 15, marking a historic leap in regional economic integration after seven years of negotiations.
The head of the Trade Promotion Organization (TPO) said, “The agreement represents a long-term effort to sustain economic growth between the parties. Undoubtedly, the Eurasian Union is among Iran’s top five trading partners.”
“Numerous meetings with relevant executive bodies have been held to advance economic relations with Eurasian countries. Committees involving entities such as the Islamic Republic of Iran Customs Administration (IRICA) and the Iran National Standards Organization have also been formed to address issues like phytosanitary regulations and logistical support. These steps aim to prevent challenges during the agreement’s implementation and ensure optimal use of this opportunity.”
“In this context, an educational conference on the agreement has begun as part of a provincial tour. The first session is being held today [Thursday] at the Khorasan Razavi Chamber of Commerce to familiarize economic actors with the agreement’s provisions, clarify implementation methods, and address stakeholders’ questions,” Dehqan Dehnavi added.
“We aim to hold this conference in major provinces across the country before May 15 and invite private sector representatives to leverage the opportunities under the Eurasian trade agreement,” he said.
Dehghan Dehnavi emphasized that, “Khorasan Razavi, due to its proximity to Russia and Central Asian countries, holds strong geopolitical potential. The province’s industrial capacities can be utilized for exports to Eurasia.”