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Iran Ups Exports to Eurasia from Northern Province by 69%

Iran Ups Exports to Eurasia from Northern Province by 69%

Iran has increased its exports from the Northern province of Gilan to the Eurasian states by 69 percent in a period of six months

"More than 328,000 tons of goods worth about $164 million were exported to member countries of Eurasian Economic Union via customs of Gilan province, northern Iran, since October 27, 2019 – the date of entry into force of the Interim Trade Memorandum between Iran and EAEU – till the end of last Iranian year on March 19," Gilan Customs Supervisor Abolqasem Yusefinejad said.

He noted that the figure shows an increase of 86 percent and 69 percent in terms of volume and value, respectively, in comparison with the corresponding period of last year.

The exported products from Gilan mainly include mineral products, vegetables, fruit, dates, raisins, tea, glass, food products, textile and plastic products.

Iran and EEU are looking to substantially increase trade, as they signed a three-year provisional agreement in Astana, Kazakhstan, on May 17, 2018, for the bloc to welcome Iran into EEU.

The preferential trade agreement came into effect on October 27, 2019, based on which the two sides have three years to upgrade the treaty into a full-fledged free trade deal that lowers or abolishes customs duties.

The average tariff set by EEU for Iranian goods as part of their provisional preferential trade agreement stands at 3.1%, while Iran’s average tariff for commodities from EEU amounts to 12.9%, according to the deputy for international affairs with Iran Chamber of Commerce, Industries, Mines and Agricultures.

Iran and EEU have a total of 862 types of commodities listed in their PTA. As per the deal, Iran will enjoy much easier export terms and lower customs duties on 502 items and the same go for 360 items from the EEU member states