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Reduced Iran imports from Russia and US

Reduced Iran imports from Russia and US

According to Iran's foreign trade statistics, imports from Russia and the US have dropped dramatically in the 11 months leading up to February. Based on these statistics, imports from Russia worth USD 615MM and an approximate weight of one million tons show a drop of 58 percent as compared to a similar period the previous year. Russia is the 14th exporter of goods to Iran.

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Iran becomes 2nd largest PSA production base

Iran becomes 2nd largest PSA production base

Following a visit to the Citroen factory by SAIPA automotive group CEO, he announced: “The French are ready to transfer technical knowledge to Iran and work with SAIPA to promote car and parts design. Iran will become the world’s second largest Citroen production hub after France.”  

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Iran, Russia, Kazakhstan sign Mou for wheat trade

Iran, Russia, Kazakhstan sign Mou for wheat trade

The IR of Iran, Russia, and Kazakhstan have signed a Memorandum of Understanding for a trilateral trade in wheat. Iran has signed the MoU with the aim of becoming self-sufficient in wheat production and benefiting from its geographical location to become a trading hub for wheat and flour exports in the region.

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Iran seeking alternative trade hub to Dubai

Iran seeking alternative trade hub to Dubai

Following new tensions between Iran and the UAE, Tehran is seeking to downgrade Dubai as its regional trading hub and replace it with Qatar and Oman. The Financial Tribune writes that Iran’s recent decision has been taken following new pressures and restrictions by UAE and Dubai officials imposed on Iranian businessmen by ratifying new VAT laws, restricting visas, and limiting banking facilities.  

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Iran-EU trade grows by 53%

Iran-EU trade grows by 53%

Iran-EU trade saw a rise of 53% in 2017 as compared to a similar period the previous year, to reach € 21 billion. The 2015 Iran nuclear agreement, the JCPOA, was implemented for the second year running in 2017, giving Iran sanctions relief.  

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Persian handwoven carpets decline in exports

Persian handwoven carpets decline in exports

The best-known handicraft of Iran in the world is its handwoven carpet. Sadly, its exports have declined sharply in recent years. The Head of the Exports Commission of Tehran Chamber of Commerce, Seyed Raz Haji-Aghamiri told ILNA News Agency: “Highest exports figures for handwoven carpets have reached USD 1BN and 700MM previously; but, they barely reach USD 200MM today.”  

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Ban on export of Iranian Caviar to US lifted

Ban on export of Iranian Caviar to US lifted

Iran’s Ministry of Agriculture advisor announced that the ban on exports of Iranian farmed caviar to the US has been lifted after 25 years, and said: “Last year, 10kgs of farmed caviar worth 60 million tomans was exported to the US.”

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Iran ranks fourth in nanoscience

Iran ranks fourth in nanoscience

Statistics published by Web of Science for end-December 2017 put Iran in fourth place in the world with 8791 articles on nanoscience. With 40% of nanoscience production, Iran also has the largest share of this science in the Islamic countries. Next in line, following Iran, are Saudi Arabia with 13%, Turkey with 11%, and Malaysia with 9%.

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Iranian saffron exports rise by 33%

Iranian saffron exports rise by 33%

During the months of March to December 2017, over 160 tons of saffron worth more than USD 219MM and 270 was exported from Iran to various countries. This shows an increase of 33.33% in weight and 26.05% in value as compared to a similar period last year.

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