Iran Energy News Oil, Gas, Petrochemical and Energy Field Specialized Channel
Related Articles
The value of Iran’s non-oil export to the United Arab Emirates (UAE) rose 28 percent in the past Iranian calendar year 1401 (ended on March 20), the spokesman of Trade Development Committee of the Iranian House of Industry, Mining, and Trade announced.
Ruhollah Latifi said that importing non-oil goods worth $5.767 billion from Iran, the UAE was the third top export destination of the Islamic Republic in the previous year.
Iran imported non-oil commodities valued at $18.395 billion from the UAE in the past year, which was 11 percent higher than the figure of the preceding year, the official stated, adding that the UAE was Iran’s first top source of import in the previous year.
Saying that the UAE is considered as one of the important countries in Iran’s foreign trade, Farzad Piltan, the director-general of Iran’s Trade Promotion Organization (TPO)’s Office of West Asian Countries, said in last October that targeting $30 billion trade between Iran and the United Arab Emirates for the next two years is on the agenda of the trade organizations of the two countries.
Pointing out that the balance of trade volume between the two countries has always been in favor of the UAE, the official added: “According to the plans, balancing, maintaining and improving the level of trade relations between the two countries is on the agenda of trade organizations.”
“Considering the position and capacities and facilities that the UAE has for the development of bilateral and multilateral cooperation at the regional and international level, by removing trade barriers and increasing export standards and insurances, we can reach $30 billion trade with the UAE”, the TPO official added.
As announced by Ruhollah Latifi, the value of Iran’s non-oil export to its neighbors rose 19 percent in the past Iranian year.
The official said that 75.184 million tons of non-oil commodities worth $30.537 billion were exported to the neighboring countries in the previous year.
According to Latifi, Iran imported 21.582 million tons of non-oil products valued at $28.305 billion from its neighbor in the past year, with a 10-percent growth in worth year on year.
Latifi, who is the former spokesman of the Islamic Republic of Iran Customs Administration (IRICA), further stated that Iran’s non-oil trade with neighboring countries accounted for 52 percent of its total non-oil trade, exports to these countries for 57.5 percent of the total non-oil exports, and imports from them for 47.5 percent of the country’s total non-oil imports in 1401, which shows the increasing importance of neighbors in Iran’s foreign trade and bringing foreign currency to meet the needs of the country under sanctions.
As previously announced by Latifi, the value of Iran’s non-oil export rose 10 percent in the past Iranian calendar year.
He said that 122.056 million tons of non-oil commodities worth $53.166 billion were exported in the previous year.
The official also announced that 37.18 million tons of non-oil commodities valued at $59.655 billion were imported to the country during the past year, with a 10 percent drop in weight, and a 13 percent rise in worth, year on year.
He went on to say that the country’s non-oil trade reached 159.236 million tons worth $112.821 billion in the previous year, with an 11.2 percent growth year on year.
Increasing non-oil exports to the neighboring countries is one of the major plans that the Iranian government has been pursuing in recent years.
Iran shares land or water borders with 15 countries namely UAE, Afghanistan, Armenia, Azerbaijan, Bahrain, Iraq, Kuwait, Kazakhstan, Oman, Pakistan, Qatar, Russia, Turkey, Turkmenistan, and Saudi Arabia.
From its early days, the administration of President Ebrahim Raisi attached great importance to upgrading relations with neighboring countries. Advancing economic diplomacy is the fulcrum of this orientation, known as the Neighborhood Policy.
In order to achieve the goals of this Policy, the Raisi administration initiated multiple visits and tours. President Raisi and his foreign minister Hossein Amir Abdollahian visited numerous countries and used everything in their power to boost Iran’s relations.
