Official Announces Value of Iran-EAEU Trade

The Advisor to the Trade Promotion Organization of Iran (TPO) for Trade Agreements and International Affairs put the current value of trade between Iran and the Eurasian Economic Union (EAEU) at US$5 billion. Mir-Hadi Seyyedi said that the Islamic Republic of Iran implemented a Preferential Trade Agreement (PTA) with the Eurasian Economic Union (EAEU) three years ago with limited coverage, he stated.

When the PTA was implemented between Iran and EAEU, the total value of trade between the two sides hit US$2.5 billion, the rate of which has now reached US$5 billion. Seyyedi pointed to the value of trade between Iran and EAEU's member states by the end of the current year and said that it is predicted that Iran’s value of trade with EAEU member states will considerably increase within the next one or two months. Iran and EAEU’s member states enjoy the high potential to increase the bilateral value of trade by US$30 billion, he added. - Mehr