Monday, October 3, 2022

Official: Iran-ECO trade up 40 percent

The spokesman of the Islamic Republic of Iran Customs Administration reports a 40-percent rise in the country’s exports of non-oil commodities to members of the Economic Cooperation Organization (ECO) in the first five months of this year, compared to the same period in 2021.

Ruhollah Latifi said Tuesday that 7.3 million tons of goods worth 4.1 billion had been sold to ECO partners in the first five months of the current Persian calendar year, which began on March 20, 2022, up by 40 percent compared to the similar time span a year earlier.

Iran’s top ECO customer was Turkey, followed by Afghanistan and Pakistan, the official said.

Imports from the ECO nations also witnessed a 38-percent increase in value, although the volume of trade decreased by two percent, he added.

Most of the purchases were from Turkey, Pakistan and Kazakhstan, respectively.

The entire non-oil exchanges between Iran and ECO states included 9.1 million tons of commodities worth $6.8 billion in value, which marked a 39 percent rise in comparison with the same period last year.

Latifi attributed Iran’s growing economic exchanges to the administration’s neighbors-first policy, the country’s membership in regional treaties, and promotion of bilateral and multilateral ties with other states in the fields of politics and economy.

The Islamic Republic of Iran, Afghanistan, Azerbaijan Republic, Kazakhstan, Kyrgyz, Tajikistan, Turkmenistan, Uzbekistan, Turkey and Pakistan are ECO member states.

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