2021-April-21 04:38
Economy
2021-January-27  17:11

Iran’s Exports Nearly $6mln of Non-Oil Goods to EAEU

TEHRAN (FNA)- Iran exported $594 million worth of non-oil products to Eurasian Economic Union (EAEU)’s member states, a commercial official said on Wednesday.

Iran has exported $594 million of non-oil commodities to the EAEU so far, Chairman of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) Masoud Khansari said at the conference entitled “Iran and Eurasia Relations”, adding that the country has imported $396 million worth of non-oil products from EAEU in return.

“Given the suitable situation of road fleet, we can increase transportation via land among [EAEU] countries,” Khansari noted, adding, “In the field of training, we enjoy high capability to boost bilateral exchanges.”

He went on to say, “Using a currency pact instead of US dollar can reduce dollar monopoly.”

Meanwhile, Managing Director of Iran’s Export Guarantee Fund Abdollah Sajjadi said on Wednesday that the fund has allocated up to $800 million for the EAEU member states.

Sajjadi said that, due to the limitations of Iran's banking system because of illegal US sanctions, the issuance of mutual guarantees with the help of peer institutions is one of the new strategies of the institution to secure foreign trade.

He said that supporting exports via covering Eurasian political and commercial risks has been put on top of the fund's agenda.

In a relevant report earlier this week, TCCIMA announced that Iran exported $1.38 billion worth of foodstuff and agricultural products to EAEU member states in the first nine months of the current year (from March 20 to December 20, 2020).

Out of the total of $1.627 billion worth of trade exchanged between Iran and EAEU in this period, $1.38 billion worth of agricultural and foodstuff products were exported to the Union, the statistics showed.

Under the Preferential Trade Agreement (PTA) inked between Iran and EAEU on October 26, 2019, 860 items of goods are exchanged between Iran and five EAEU’s member states including Russia, Kazakhstan, Belarus, Kyrgyzstan and Armenia.