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Iran, Eurasian Economic Union Transactions Top $1.7 Billion in 6 Months

The value of transactions under a bilateral preferential trade agreement that has been in effect since Oct. 27, 2019, stood at over $1 billion, accounting for 56.46% of the total exchanges
Iran, Eurasian Economic Union Transactions Top $1.7 Billion in 6 MonthsIran, Eurasian Economic Union Transactions Top $1.7 Billion in 6 Months

Iran and the Eurasian Economic Union have traded a total of 5.1 million tons of goods worth $1.78 billion from Oct. 27, 2019, when a preferential trade agreement between the two sides came into effect on April 24, 2020.
According to Rouhollah Latifi, the spokesman of the Islamic Republic of Iran Customs Administration, the value of bilateral trade under the preferential trade agreement stood at $1 billion, accounting for around 56.46% of the total exchange, Mehr News Agency reported.
“Iran’s total exports to the bloc stood at 1.34 million tons worth $539.61 million, accounting for 30.27% of the total trade value. Imports from the five EEU member states hit 3.76 million tons worth $1.24 billion to account for 69.73% of overall trade,” he said.
Russia, Armenia and Kazakhstan were Iran's biggest export destinations from among the five EEU member states, accounting for 53%, 23% and 16% of Iran's overall exports to the bloc respectively.

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