(MENAFN) Iran's Foreign Economic Relations Coordination Committee convened its third meeting to evaluate the current status of economic collaborations with neighboring nations including Azerbaijan, Armenia, Uzbekistan, along with Turkmenistan.
Led by Iran’s Deputy Foreign Minister for Economic Diplomacy, Mehdi Safari, the meeting took place on Sunday, with a focus on enhancing ties with Caucasian and Central Asian countries.
Safari stressed the importance of fostering partnerships with these nations and emphasized the necessity of cooperation among relevant institutions and the private sector to fully leverage the potential for developing relations. Key areas of focus included the export of technical and engineering services, transit, knowledge-based product exports, energy, industry, mining, and academic exchange programs.
Discussions during the meeting centered on the current status of plans and projects with the aforementioned countries, as well as identifying obstacles and proposing solutions to facilitate the finalization and implementation of these initiatives. Attendees included deputies and managers from executive bodies, along with representatives from the private sector.
In the previous Iranian calendar year, Iran's trade with neighboring countries experienced a modest increase of 1.35 percent, reaching a total value of USD60.773 billion. However, the weight of non-oil trade with neighboring nations decreased by 2.45 percent compared to the preceding year, totaling 95.924 million tons.
Iran's exports to neighboring countries amounted to USD28.288 billion, while imports from these countries totaled USD32.485 billion during the same period. Notably, Iran witnessed a decrease of 9.51 percent in exports to neighboring countries, while imports from these nations increased by 13.17 percent.
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