TEHRAN The third Eurasian Trade Exhibition is underway in Tehran, including 200 foreign delegations from member states of the Eurasian Economic Union (EAEU), according to Mohammad-Ali Dehghan Dehnavi, head of Irans Trade Promotion Organization (TPO).
Speaking at the events opening ceremony, which was gone to by President Masoud Pezeshkian, Dehghan Dehnavi highlighted the considerable growth in trade in between Iran and EAEU countries, IRNA reported.
Since the initial trade contract between Iran and Eurasian countries was established 4 years back, our trade volume has actually increased by 2.5 times.
We are still far from our ultimate goals, he stated.He also noted that Irans free trade agreement with the EAEU has actually been authorized by parliament and is waiting for final verification from the Guardian Council.
This contract is expected to even more facilitate economic exchanges and get rid of barriers to trade in between Iran and EAEU member states.Key features of the exhibitionThe Eurasian Trade Exhibition is being held in a 12,000-square-meter venue in Tehran and has drawn in 180 Iranian companies along with 160 foreign firms from EAEU nations, consisting of Russia, Kazakhstan, Belarus, Armenia, and Kyrgyzstan.
In addition, 230 going to business are participating in various service negotiations and specialized panels.Dehghan Dehnavi explained the occasion as a chance for Iranian organizations to check out new markets and evaluate the abilities of Eurasian nations.
This exhibit offers a platform for companies to establish direct industrial ties, identify financial investment chances, and gain insights into the latest trade advancements within the EAEU, he said.In addition to showcasing products and services, the exhibition features expert-led conversations on trade policies, banking and monetary cooperation, customs guidelines, and financial investment techniques.
These sessions aim to improve business cooperation and address challenges dealing with regional trade.The TPO head also revealed the establishment of a Eurasian trade secretariat within the TPO, which will supervise Irans commercial relations with the EAEU.
To further support Iranian traders, five malls have actually been released in surrounding nations, providing important services to assist in trade and financial investment, he added.Presidential check out and trade commitmentsDuring his check out to the exhibit, President Pezeshkian visited several cubicles and taken part in discussions with service representatives from different industries.
He emphasized the tactical importance of deepening Irans financial ties with the EAEU and pledged the federal governments full assistance for expanding trade relations.Accompanying the president, Minister of Industry, Mining, and Trade Mohammad Atabak highlighted the capacity of Iran-EAEU cooperation.
The open market arrangement in between Iran and the EAEU is an essential action towards enhancing exports, decreasing trade barriers, and strengthening financial partnerships, he specified.$10 billion trade target and future prospectsAtabak revealed that Irans present trade volume with the EAEU stands at $3.6 billion, however the federal government has set a target of $10 billion in the near future.
He stressed the significance of the EAEU as a financial bloc with a combined gdp of $5 trillion and a population of 200 million.The minister highlighted the removal of 87 percent of tariffs as a major incentive for Iranian exporters and foreign investors.
He likewise indicated efforts to develop financial and banking cooperation, which he stated would produce a more efficient trading environment.
With more powerful financial ties, we can enhance Irans export capability, foster technological cooperation, and develop brand-new chances for investment in essential industries, Atabak concluded.EF/ MA