Iran witnesses surge in value of non-oil trade with member states of SCO

(MENAFN) In the first six months of the current Iranian calendar year (March 21-September 22), Iran has witnessed a significant surge in the value of its non-oil trade with member states of the Shanghai Cooperation Organization (SCO). The announcement, made by Ruhollah Latifi, the spokesman of the International Relations and Trade Development Committee of Iran's House of Industry, Mining, and Trade, indicates a remarkable 10 percent growth in trade with these SCO nations. During this period, Iran engaged in trade activities involving approximately 37 million tons of non-oil goods, amounting to a total value of $21.736 billion, as reported by IRNA.

Iran's exports to SCO members totaled 31.436 million tons of goods valued at $10.583 billion during the same six-month period. This marks a slight decrease of three percent compared to the previous year. In contrast, Iran's imports from the SCO nations witnessed a substantial increase, with 5.545 million tons of goods valued at $11.15 billion, reflecting a notable 24 percent rise in comparison to the previous year's statistics.

Among the member states of the SCO, China emerged as Iran's primary export destination during this period, with India, Pakistan, Afghanistan, Russia, Uzbekistan, Kazakhstan, Tajikistan, Kyrgyzstan, Belarus, and Mongolia following in the ranking. On the other hand, China also held the top position as the leading exporter to Iran, with India, Russia, Pakistan, Uzbekistan, Kazakhstan, Belarus, Tajikistan, Afghanistan, Kyrgyzstan, and Mongolia rounding out the list.

It is worth noting that Iran's long-anticipated permanent membership in the Shanghai Cooperation Organization was granted last year, and the country is currently in the process of finalizing formalities to make this membership official. This development signifies a significant step for Iran in its regional engagement and cooperation.

Furthermore, Iran's First Vice President, Mohammad Mokhber, recently embarked on a trip to Bishkek, Kyrgyzstan, where he is set to participate in the 22nd Meeting of the Council of Heads of Government of the Shanghai Cooperation Organization. This important event is scheduled to take place on October 26. Prior to his departure, Mokhber emphasized the substantial economic cooperation potential among SCO member countries and expressed hope that this trip would yield agreements and plans for bilateral cooperation between Iran and the Shanghai member countries. This underlines the growing significance of economic partnerships within the SCO framework, as these nations work to strengthen their ties and enhance economic collaboration.

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