Minister of industry: Iran’s foreign trade volume at $200bn in past year

MNA – Minister of Industry, Mine and Trade Mohammad Shariatmadari put the volume of Iran’s trade and business relations with the outside world in the past Iranian calendar year in 1396 (ended March 20, 2018) at $200 billion and said, “given the considerable trade volume of exchanges, Islamic Republic of Iran can be a good trade partner for Uzbekistan.”

Speaking on Monday at 12th Joint Economic, Trade, Scientific and Technical Cooperation between Islamic Republic of Iran and Republic of Uzbekistan, held at the venue of Trade Promotion Organization of Iran (TPOI), he added, “Iran and Uzbekistan have always enjoyed good and fair relationship in the course of their political life.”

Policy taken by Uzbekistan with regard to its neighbors and other Central Asian countries is very much similar to Iran, he said, adding, “this important issue can help strengthen relationship between the two countries of Iran and Uzbekistan.”

He put the revenues obtained by Iran in the field of selling oil at $52 billion and added, “moreover, $47 billion worth of nonoil products was exported to the world markets in the past Iranian calendar year in 1396 (ended March 20, 2018).”

Elsewhere in his remarks, the industry minister said that Islamic Republic of Iran has gained salient achievements in petrochemical industries, the issue of which can be used by all its neighboring countries.

Totally, about 110 million tons of new steel production capacity of the country is underway with 70 percent (70%) physical progress, so that steel products will hit the consumer market in the very near future.

In conclusion, minister of Industry, Mine and Trade said that establishing free trade agreement (FTA) is facilitator of trade and economic relations between the two countries.