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Iran exports to Eurasian countries surge by nearly 70%: Official

US Rep. Ilhan Omar (D-MN) (L) talks with Speaker of the House Nancy Pelosi (D-CA) during a rally with fellow Democrats before voting on H.R. 1, or the People Act, on the East Steps of the US Capitol on March 08, 2019 in Washington, DC. (AFP photo)
File photo by Sputnik News shows flags of countries member to Eurasian Economic Union (EAEU) besides the union’s flag.

Iran has seen its exports to countries member to the Eurasian Economic Union (EAEU) surge by nearly 70 percent since a preferential trade agreement was signed between the two sides late last year, says a senior government official.

Hamid Zadboum, who heads Iran Trade Promotion Organization, said on Tuesday that the value of Iranian exports to the EAEU countries had reached a total of $281.3 million between October 27, when the trade deal was signed, and March 19 when the Iranian calendar year ended.

Zadboum said the figure shows an increase of 69.4 percent compared to the similar period in 2018-2019.

The official said growth for Iranian exports to the EAEU countries has been more visible in goods and products enjoying lower tariffs, adding that those shipments had seen a surge in value of 85.6 percent year on year in late March.

He said agrifood and rugs continues to dominate Iran’s exports to the EAEU countries with pistachio and fruits like kiwi still being very popular among customers in the region despite the fact that some items do not enjoy lower tariffs based on the trade deal signed with the bloc.

Zadboum said basic goods and staples accounted for a bulk of Iran’s imports from the Eurasia countries in nearly five months after the signing of the preferential trade agreement.

He said Iran applies lower tariff to around 13 percent of its total imports from the EAEU while the other side considers lower duties for nearly half of its imports from Iran.

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

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