Iran-OIC Trade Ups 20%
TEHRAN (FNA)- The value of trade exchanges between Tehran and the Organization of Islamic Cooperation member states in the first ten months of the current Iranian year has suppressed $50 billion, the Islamic Republic of Iran Customs Administration (IRICA) announced.
Thw latest data released by the IRICA show, Iran's trade with member states of the OIC, excluding crude oil exports, reached 83.18 million tons worth $50.03 billion during the first 10 months of the current Iranian year (March 21, 2022-Jan. 20), registering a 1.65% and a 20.18% rise in terms of weight and value compared with the corresponding period of last year.
The UAE with 20.27 million tons (up 5.48%) worth $19.77 billion (up 17.42%) was Iran’s top trade partners among OIC member states. It was followed by Turkey with 15.89 million tons (up 3.94%) worth $11.69 billion (up 33.52%) and Iraq with 24.33 million tons (down 9.07%) worth $9.08 billion (up 10.47%).
Iran’s exports to OIC stood at 66.51 million tons worth $27.32 billion during the 10-month period, registering a 3.16% and a 24.41% increase in terms of weight and value respectively, Financial Tribune reported.
Iraq with 24.21 million tons (down 3.27%) worth $8.92 billion (up 22.45%) was the top export destination during the period. It was followed by the UAE with 9.26 million tons (down 23.21%) worth $4.82 billion (up 6.45%) and Turkey with 12.86 million tons (up 42.43%) worth $6.61 million (up 73.99%).
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The surge in foreign trade comes in the backdrop of the President Seyed Ebrahim Rayeesi administration’s agenda to expand economic ties with countries in the region and those across the globe.
Back in October, Iran's president reiterated that Iran is achieving success as, according to the US officials’, their maximum pressure policy on Tehran has been defeated.
In mid-May, Rayeesi noted that Iran is no longer worried about its oil sales despite heavy sanctions imposed by the US.