Iran Non-Oil Goods' Exports to EAEU Member States

Islamic Republic of Iran exported US$594 million worth of non-oil products to Eurasian Economic Union (EAEU)’s member states. Speaking in the inaugural ceremony of Iran-Eurasia Economic Diplomacy Forum, Chairman of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) Masoud Khansari said that the country imported US$396 million worth of non-oil products from EAEU in return. In a competitive economy, countries grow, he said, adding, “Accordingly, unions were set up in east Asia and could settle both security and economic challenges.”
He then pointed to the issue of transport as the most important issue in economic relations between Iran and Eurasia, and added, “Given the suitable situation of road fleet, we can increase the transport via land among countries,”

Elsewhere in his remarks, Khansari pointed to the issue of exchanging technology and technical knowhow between Iran and Eurasian Economic Union and stated, “In the field of training, we enjoy high capability to expedite bilateral exchanges and communications.” Turning to the issue of single currency unit between EAEU member states, Khansari added, “Using a currency pact instead of US dollar can reduce monopoly of dollar, so that it will be benefit of all member states of the Eurasian Economic Union.”

He then referred to the initiative of “One Belt One Road” that can be a successful model between countries for the development of regional peace and stated, “It is hoped that Islamic Republic of Iran would enhance its ties with EAEU’s member states in line with realizing most economic objectives.”

Iranian Minister of Energy (Water and Electricity) Reza Ardakanian in his video message to th forum said Iran’s preferential trade agreement with Eurasian Economic Union (EAEU) was a smart action in alignment with the current world economic trend and national economic goals as well as in encountering the U.S. sanctions. He said using the regional trade experience is a must for boosting exports and Iran’s presence in the EAEU and the way it can accept its commitments in accordance with the country’s development goals should be put on the agenda of the custodians of the country.

Meanwhile addressing the forum, the chairman of the Board of Directors and Managing Director of the Export Guarantee Fund of Iran Abdollah Sajjadi said that Iran’s Export Guarantee Fund to Eurasian Economic Union countries covers up to US$800 million. Referring to the limitations of Iran’s banking system due to outrageous U.S. sanctions, he stated that the issuance of mutual guarantees with the help of peer institutions is one of the new strategies of this supporting institution to secure foreign trade. - Mehr, Iran News Daily