Five Countries Destination of 80% of Iran's Export Products: Deputy Industry Minister
TEHRAN (Tasnim) – The head of the Trade Promotion Organization of Iran (TPOI) said eighty percent of Iranian products are exported to five countries, namely China, Iraq, Turkey, the United Arab Emirates (UAE) and India.
Mehdi Zeyghami pointed to the significance of increasing export of knowledge-based products with higher added value to foreign countries and noted that the recent conclusion of a Free Trade Agreement (FTA) between Iran and member states of the Eurasian Economic Union is a good opportunity for promoting the competitiveness of industrial and production units.
Speaking at the 3rd Conference of the Iran Scientific Associations Council, Strategies of the Industrial Development, the deputy industry minister pointed out that the removal of tariff rates between the two sides has paved the way for entering complex markets and joining the World Trade Organization (WTO).
Elsewhere in his remarks, Zeyghami pointed to the export of products to the Eurasian markets and added that 80 percent of Iranian products are exported to China, Iraq, Turkey, the United Arab Emirates and India, ILNA reported.
He emphasized the need for strengthening the export of technical and engineering services due to the high potential of the country and called for the unwavering support of the governments as a prerequisite for spurring export of the technical and engineering services.
The TPOI chief further stressed bolstering the export of oil- and non-oil goods to the neighboring and like-minded countries.
The free trade agreement between the EAEU and Iran was signed during the EAEU summit in St. Petersburg on December 25.
In 2018, Iran and the EAEU inked a Preferential Trade Agreement (PTA), which came into effect on October 27, 2019. The two sides later began negotiations to upgrade the PTA to an FTA after the success of the former.
