A total of $30 million worth of goods were exported from East Azarbaijan Province to Armenia during the first three months of the current Iranian year (March 21-June 21), registering a 5.6% rise compared with the similar period of last year, according to a local official.
“Mineral products with $9 million topped the list of goods exported to Armenia during the period, followed by industrial products with $8 million, agricultural products and foodstuff with $7 million, and petrochemicals and oil derivatives with $6 million,” Mohammad Taqi Honarbar was quoted by IRNA as saying.
The official estimates that exports to Armenia from East Azarbaijan Province will exceed $200 million by the fiscal year’s end on March 2023.
During the same three-month period under review, the northwestern province imported $688,000 worth of goods from Armenia, he added.
“Armenia is our threshold to the Eurasian Economic Union (EEU),” he noted
In 2021, Armenia imported $5 billion worth of goods. Iran was the third biggest exporter to this EEU member state with $437 million (accounting for 8% of the total imports), after Russia and China.
Iran and the Eurasian Economic Union signed a three-year provisional agreement in Astana on May 17, 2018, for the bloc to welcome Iran into EEU. The arrangement, which lowers or abolishes customs duties, is the first step toward implementing free trade between Iran and the five members of the union.
Iran’s trade with Eurasian Economic Union member states stood at 13.13 million tons worth $5.64 billion in fiscal 2021-22 (ended March 20), registering 51% and 66% year-on-year growth in weight and value respectively, according to Rouhollah Latifi, spokesman of the Islamic Republic of Iran Customs Administration.
