Iran-Eurasia Trade Surpasses $4 Billion in 8 Months

Minister of Industry, Mine and Trade announced that bilateral trade volume over the first eight months of 2026 reached approximately $4.486 billion.

According to the report of Ambassador Arjan, quoted by the Ministry of Security, Seyyed Mohammad Atabek said today at the second meeting of the Joint Committee for the Implementation of the Free Trade Agreement between Iran and the Eurasian Economic Union, which was held in the presence of Andrey Slepanov, the minister in charge of trade of the Eurasian Economic Union and the ambassadors of the member countries, that the development of economic relations with the member countries of this union is a strategy based on mutual respect and securing common interests and should lead to the formation of stable and predictable cooperation.

Referring to the background of the formation of economic cooperation in the Eurasian region, he said: Today, with a population of more than 180 million people and a significant geographical area, this union has diverse capacities in the fields of energy, transportation, industry, agriculture and trade.

Referring to the process of Iran's trade negotiations with the Eurasian Economic Union, Atabek added: these negotiations were initially pursued with the aim of reaching a preferential trade agreement, and after holding numerous expert meetings and continuous negotiations, the ground was provided for the development of cooperation and the conclusion of a free trade agreement.

Minister Samet stated: This agreement covers various topics and topics in the field of trade and can provide a suitable platform for facilitating exchanges, developing access to the markets of member countries and increasing the competitiveness of Iranian goods.

Referring to the reports presented about the commercial performance after the implementation of the agreement, he said: After the implementation of this agreement, a significant increase in the volume of exports has been observed. This process shows that the effective use of the capacities of the agreement and the continuous follow-up of economic activists' issues can lead to the strengthening of trade relations between Iran and the member countries.

Stating that the value of Iran's trade with member countries of the Eurasian Economic Union exceeded seven billion dollars last year (2025), Atabek said: This figure has increased by about 25% compared to 1404 (2024). During this period, Iran's non-oil exports were reported to be around 2 billion 149 million dollars and imports from the member countries of the Union were reported to be 4 billion 928 million dollars.

He announced the value of trade exchanges between the two sides in the first eight months of 2026 to be around four billion and 486 million dollars.

The Minister of Industry, Mines and Trade noted that the purpose of these meetings is to examine the main issues, remove obstacles to trade and make maximum use of cooperation opportunities. Specialized working groups are expected to provide practical solutions for the development of trade exchanges by focusing on executive issues and the needs of economic actors.

He listed the holding of joint seminars in the fields of industry, agriculture, transportation and logistics, review of import and customs requirements, facilitation of foreign trade, exchange of list of goods and introduction of producers with export capacity among the measures taken in this direction.

Emphasizing the importance of the participation of small and medium-sized enterprises and companies located in the free and special economic zones of the country, Atabek noted: the capacities of these enterprises and zones can play an effective role in facilitating economic exchanges and developing commercial cooperation between Iran and the member states of the Union. He declared Iran's readiness to expand specialized cooperation in the field of medicine and pharmaceuticals, and considered the development of these interactions as a basis for strengthening industrial cooperation and creating joint production capacities.

Referring to the importance of the Islamic Republic of Iran's observer position in the Eurasian Economic Union, the Minister of Industry, Mines and Trade said: We expect that the implementation of the cooperation roadmap will go beyond exchanging documents and holding meetings and will bring practical and measurable results.

Atabek listed the increase in the use of preferential trade capacities, the reduction of executive and operational barriers, the expansion of the variety of exchanged goods and the formation of joint industrial projects among the indicators of the progress of economic cooperation between Iran and the Eurasian Economic Union.

He suggested that for each of the areas of cooperation, future actions should be clearly defined, the authority responsible for follow-up, determining and scheduling the implementation of programs should be developed so that in the next meeting, the possibility of a more accurate assessment of the progress and realization of the agreed goals would be provided.