Iran Chamber of Commerce, Industries, Mines and Agriculture plans to send a delegation to the Organization of Islamic Cooperation’s High-Level Public and Private Investment Conference, scheduled for Dec. 9-10 in Istanbul, Turkey.
ICCIMA has invited businesspeople active in different fields to join the delegation. Those interested in attending the event can get more information through 021-85732356.
Under the theme of “Unleashing Intra-OIC Investment Opportunities: Investment for Solidarity and Development”, the upcoming OIC conference is slated to be held in collaboration with the Presidency of the Republic of Turkey Investment Office, the General Secretariat of OIC and the Islamic Development Bank Group with a view to boosting the volume of intra-OIC investments, eliminating barriers to trade and investment, and ensuring sustainable socioeconomic development.
Invitees are set to include a selection of businesspeople from a range of leading companies of OIC member states in the area of banking, construction, tourism and commercial sectors from 56 OIC member states, five observer states and international organizations.
Opinions and suggestions from countries with Muslim business circles, e.g. the US, the UK and Germany, will also be considered.
At present, thematic panel sessions, in which private sector decision-makers and investors are expected to meet among themselves (B2B) and hold meetings with governmental entities (B2G), have been planned.
Pending the approval of the OIC Higher Committee, a “Leaders Roundtable Session” with the participation of State/Government Leaders will also take place.
The Organization of Islamic Cooperation is the second largest inter-governmental organization after the United Nations with a membership of 57 states spread over four continents. The organization represents the collective voice of the Muslim world.
OIC was established upon a decision of the historical summit that took place in Morocco on Sept. 25, 1969.
Iran's Trade With OIC
Iran traded 71.15 million tons of non-oil commodities worth $36.38 billion with the members of the Organization of Islamic Cooperation during the last Iranian year (ended March 20, 2019) to register a 10.4% and 9.32% decline in tonnage and value respectively compared to the year before.
Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports totaled 64.18 million tons worth $25.55 billion during the year, indicating a 6.47% decline in tonnage and 2.24% increase in value year-on-year.
Imports stood at 6.96 million tons worth $10.83 billion, down 35.42% and 28.41% in tonnage and value respectively YOY.
As a result, Iran recorded a non-oil trade surplus of $14.72 billion with OIC member states.
Iran mainly exported liquefied natural gas, gas condensates, low-density oils, mineral oils, gas, non-alloy semi-finished iron/steel products and bitumen to OIC member states.
In exchange, major commodities imported into Iran from OIC nations included semi- and wholly-milled rice, steam turbine parts, cellphones, cooking bananas and butter.
In terms of total trade value, the UAE topped OIC countries with Iran trade standing at 17.57 million tons worth $12.52 billion, down by 30.07% and 25.6% in tonnage and value respectively YOY.
Exports to UAE amounted to 13.75 million tons worth $5.95 billion to register a 24.53% and 12.06% decline in tonnage and value respectively YOY.
UAE was Iran’s second biggest export destination among the countries under review and third worldwide.
In return, UAE exported 3.82 million tons of commodities worth $6.56 billion to Iran, down by 44.68% and 34.71% in tonnage and value respectively YOY.
UAE was the top exporter of goods to Iran among the OIC states and second in the world after China.
Major Iranian commodities exported to UAE were gas condensates, low-density oils and mineral oils.
For its part, UAE mainly exported steam turbine parts, cellphones, butter and turbojet parts to Iran.
Iraq was Iran’s second biggest trading partner among OIC nations during the period, as two-way commercial exchanges stood at 19.84 million tons worth $9.01 billion to register a 48.25% and 35.75% growth in tonnage and value respectively YOY.
Iran exported 19.76 million tons of goods worth $8.96 billion to Iraq, up by 49.15% and 36.71% in tonnage and value respectively YOY.
Iraq was Iran’s top export destination among neighboring countries and second globally after China, during the 12-month period.
Iran’s exports to Iraq included liquefied natural gas, mineral oils, detergents, low-density oils and tomatoes.
Iran imported 73,563 tons of commodities worth $58.69 million from Iraq, down 43.14% and 34.61% in tonnage and value respectively YOY, most of which constituted low-density oil, machinery, aluminum alloy and cans.
Iraq was the eighth exporter of goods to Iran among the neighbors and 41st exporter to Iran in the world.
Turkey was Iran’s third major trading partner among OIC states.
Mutual trade between Iran and Turkey amounted to 8.15 million tons worth $4.98 billion, indicating a 49.54% and 30.61% decrease in tonnage and value respectively YOY.
Iran’s exports reached 6.76 million tons worth $2.36 billion, down 52.72% and 40.22% in tonnage and value respectively YOY, while Turkey’s exports to Iran were at 1.39 million tons worth $2.61 billion, down by 24.96% and 18.79% in tonnage and value respectively YOY.
Turkey was Iran’s fourth export destination as well as the second exporter of goods to Iran among the countries under review. The country was Iran’s sixth export destination and the third exporter to Iran in the world after China and the UAE.
Liquefied natural gas, non-alloy zinc, aluminum, urea and bitumen were Iran’s main goods exported to Turkey, while Turkey exported mainly cooking bananas, tobacco and fiber.
Afghanistan was Iran’s third biggest export destination, after Iraq and the UAE, among OIC states and fourth in the world, as Iran exported 5.67 million tons worth $2.92 billion to Afghanistan during the 12-month period, down by 4.18% in tonnage and up by 5.11% in value YOY.
Iran mainly exported low-density oils, iron/steel bars and floorings to Afghanistan.
Oman was the third major exporter of goods to Iran among OIC members after the UAE and Turkey during the year, as Iran imported 385,286 tons of commodities worth $432.82 million from Oman, indicating a 50.01% and 99.75% growth in tonnage and value respectively YOY.
Iran mainly imported vehicles, pharmaceuticals, field corn, lentil, pod vegetables and barley from Oman.
Oman was the 16th exporter of goods to Iran in the 12 months worldwide.
