Trade between Iran, EAEU states up 14 pct in 2020

Trade between Iran and the Eurasian Economic Union (EAEU) states has seen a 14-percent increase in the past seven months, a senior Iranian official was quoted on Monday by Press TV.

Since January, Iran has traded with the five-member bloc slightly less than 7 million tons of commodities, worth about 2.5 billion U.S. dollars, said Hamid Zadboum, head of Iran’s Trade Promotion Organization.

The figure is “significant” because of the huge blow dealt on global trade by the coronavirus pandemic and the effect of U.S. sanctions on Iran.

The total includes over 1.7 billion dollars worth of imports by Iran, plus more than 860 million dollars worth of Iranian goods exported to the EAEU countries, according to the report.

A landmark three-year provisional agreement was signed by Iran and the EAEU on May 17, 2018 to boost trade among the participants.

In April after a peak in COVID-19 cases, the EAEU bloc removed all tariffs on imports of 11 Iranian agricultural and food products.

The EAEU currently comprises Russia, Armenia, Kyrgyzstan, Kazakhstan and Belarus.