Iran has capacity for $31b of exports to 3 neighbors: official

February 4, 2020 - 18:43

TEHRAN - The Chairman of Iran-Iraq Chamber of Commerce said on Tuesday Iran has the capacity to export $31 billion worth of products to the neighboring countries of Iraq, Afghanistan, and Pakistan.

“Export-based perspectives should be taken into consideration for promoting exports and boosting the quality of products is a prerequisite for spurring export in the country,” Yahya Al-e Es’hagh said.

Based on official studies, the volume of trade exchanges between Iran’s 15 neighboring countries stands at about $1,000 billion, he added.

Iran’s 15 neighboring countries are home to about 500 million people, he said, adding, “these countries provide between $200 and $250 billion worth of exports capacity for the Islamic Republic of Iran.”

If barriers facing trade and business activities are removed, Iran will be able to export $50 million worth of products to these countries, Al-e Es’hagh noted.

He put the volume of products exported from Iran to neighboring Iraq over the past year at $13 billion while about $9 billion worth of products were exported to Iraq in the nine months of the current year (from March 21 to Dec. 22).

Iran enjoys high potential to export up to $20, $6 and $5 billion worth of products to Iraq, Afghanistan, and Pakistan respectively, he stressed.

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