Iran’s trade with Eurasian Economic Union hits $2.4b

Financial Tribune – Iran and the Eurasian Economic Union traded 6.86 million tons of commodities worth $2.4 billion from Oct. 27, 2019, when a preferential trade agreement between the two sides came into effect, to June 20, 2020, according to the spokesman of the Islamic Republic of Iran Customs Administration.

“The figure pertains to seven months and 26 days. Though the region was struggling with the Covid-19 pandemic for more than half this period, trade kept flowing. Iran and EEU accounted for 28% and 72% of the total trade volume respectively over the period,” Rouhollah Latifi was also quoted as saying by Mehr News Agency.

Iran’s total exports to the bloc, said the official, stood at 1.65 million tons valued at $681 million, he added.

“Imports from the five EEU member states hit 5.2 million tons worth $1.73 billion, $1.17 billion of which (67.3%) were carried out under the trade agreement,” he said.