Iran posts 150% surge in trade with D-8 in five years: TPO chief
The head of Trade Promotion Organization (TPO) announced on Tuesday that Iran's trade relations with members of the D-8 Organization for Economic Cooperation have grown by more than 150% over the past five years and reached $22 billion, even as he said the trade volume is still far from the desired level.
Speaking at the D-8 Ministerial Meeting in the Egyptian capital of Cairo, Mohammad Ali Dehqan Dehnavi said the organization, with its rich resources, young population, and strategic location, possesses unparalleled potential to become an influential economic hub in the international arena.
“Iran's trade relations with D-8 members have grown by over 150% in the past five years, reaching 22 billion dollars. Although this figure indicates the significant potential for trade among the group's members, it is still far from the desired level,” Dehqan Dehnavi said.
“Therefore, we urge all member countries to seriously commit to the full implementation and operationalization of the Preferential Trade Agreement (PTA).”
While welcoming the formation of an expert working group to examine tools for developing the PTA, which gives preferential access to certain products from the participating countries, Dehqan Dehnavi emphasized, “This working group, with the help of all members and the support of relevant international organizations, should conduct comprehensive technical evaluations and provide recommendations that guarantee the interests of all members. We expect the tangible results of this review to be presented at the upcoming ministerial meeting.”
The TPO chief underlined that, “Beyond the issue of tariff liberalization, it is essential that we seriously pursue cooperation in other key areas, including customs cooperation and facilitation, logistics, transportation and transit, settlement mechanisms with national currencies, and private sector interaction through the cooperation of the member countries' chambers of commerce.
Stressing that the Islamic Republic, despite facing unilateral and oppressive sanctions, remains committed to constructive cooperation within the framework of the D-8, Dehqan Dehnavi said, “We hope that member countries will consider our special circumstances and ensure that external restrictive measures do not hinder regional economic cooperation and integration.”
The TPO chief also expressed hope that the Cairo meeting would be a significant step towards achieving broader economic cooperation within the D-8 group.