TEHRAN- The value of Iran’s export to the Eurasian Economic Union (EAEU) member countries rose 10 percent during the first eight months of the current Iranian calendar year (March 21-November 21), as compared to the same period of time in the previous year, the Islamic Republic of Iran Customs Administration (IRICA) reported.

The IRICA report put the worth of Iran’s export to the mentioned countries at $1.46 billion during the said eight-month period.

The official statistics indicate that Iran's trade with the Eurasian Economic Union has followed an upward trend in recent years. According to the IRICA report, the value of trade between Iran and member countries of this union has risen from $2.5 billion in the past to nearly $5 billion currently. This growth is a clear sign of the positive impact of implementing Iran's preferential trade agreement with the Eurasian Economic Union, and forecasts suggest that under current conditions, this trade value could be assessed at up to $20 billion.

The implementation of this agreement, which entered its operational phase in May, has created new opportunities for boosting Iran's trade with the five member countries of the Eurasian Economic Union. Iran's free trade agreement with Russia, Kazakhstan, Belarus, Armenia, and Kyrgyzstan has laid the groundwork for facilitating the export of goods, reducing tariffs, and increasing the competitiveness of Iranian products.

Experts believe that this agreement will not only strengthen Iran's export capacities but will also lead to the development of stable, long-term economic relations between Iran and the member states of the Eurasian Economic Union.

In this regard, Mirhadi Seyedi, International Affairs Advisor to the Head of the Trade Promotion Organization (TPO), told the Mehr News Agency: "According to Iran Customs statistics, the country's exports to member states of the union during the first eight months of the current year increased by 10 percent, reaching $1.46 billion."

He stated that this increase demonstrates that the implementation of the free trade agreement has had a tangible impact on Iran's export. However, further measures are required to achieve the target of $20 billion.

Seyedi emphasized that the value of trade between Iran and member countries of this union has increased from $2.5 billion in previous years to nearly $5 billion at present.

In mid-August, Mohammad Ali Dehghan Dehnavi, head of the Trade Promotion Organization of Iran (TPO), said that steel and petrochemicals are expected to account for 50 percent of the objectives set under Iran’s free trade agreement (FTA) with the Eurasian Economic Union (EAEU).

He said the FTA, which entered into force on May 15, 2025, is unprecedented for Iran, reducing tariffs on 87 percent of traded goods.

He noted that while previous preferential trade agreements with the EAEU had expanded trade volumes, this latest agreement presents a unique opportunity for deeper integration.

“Trade agreements create both opportunities and challenges. The overall outcome is positive for both sides if vulnerabilities are addressed and opportunities maximized,” Dehnavi said. He emphasized that steel and petrochemical industries are major drivers of production and exports, and leveraging them effectively could achieve half of Iran’s FTA objectives.

The official called on the private sector to actively engage in Eurasian markets, pointing to research identifying which Iranian products have the highest export potential. “Private companies should focus on maximizing profitability, while policymakers ensure collective benefits such as employment, economic growth, and foreign currency inflows,” he said.

Dehnavi also noted that export opportunities vary across member states, highlighting Russia as one of the most lucrative markets for Iranian products and promising further studies to optimize engagement in the region.

According to Elham Haji Karimi, head of the Iran-EAEU FTA secretariat, the agreement, signed in December 2023 after more than two years of negotiations, covers 11 chapters, including trade in goods, technical measures, sanitary standards, rules of origin, customs cooperation, dispute resolution, government procurement, and sectoral cooperation in transport, energy, automotive industries, and free trade zones.

MA