Tehran – Trade in Iranian agricultural products with EAEU member states experienced a significant 21% increase during the first nine months of the current Iranian calendar year (March 20 - December 21, 2024), as reported by the Islamic Republic of Iran Customs Administration (IRICA).

As reported by the IRICA, Iran exported 594,491 tons of agricultural products worth $467 million to the EAEU members in the nine-month period, indicating seven percent growth in terms of weight, year on year, Tehran Times reported. 

 

In mid-December, EAEU Minister of Trade Andrey Slepnev underscored the importance of the free trade agreement with Iran, citing the country's strategic position as a primary partner on the EAEU's southern borders and a key player in the International North-South Transport Corridor (INST).

 

In an interview with Izvestiia, Slepnev highlighted Iran's achievements in import substitution, technological development, and resilience against sanctions.

 

Previously, the European Union accounted for over 40 percent of the EAEU's trade, with the Global South comprising less than half. “Today, the share of European partners has fallen by about 2.5 times, while trade with the Global South continues to grow. By the end of 2024, we expect it to account for 75 percent of our trade turnover,” Slepnev added.