Iran’s shipments to member countries of OIC increase by 22 percent
Date
10/28/2024 8:40:46 AM
(MENAFN) According to recent data from the Islamic Republic of Iran Customs Administration (IRICA), Iran's exports to member countries of the Organization of Islamic Cooperation (OIC) witnessed a substantial increase of 22 percent during the first seven months of the current Iranian calendar year, which runs from March 20 to October 21. The IRICA reported that Iran exported 50.6 million tons of non-oil goods, amounting to a value of approximately USD20.364 billion, to OIC member states within this timeframe. Additionally, the report highlighted a 15 percent rise in the weight of these exports, signaling a robust trade relationship with these countries.
In terms of imports, Iran also experienced growth in trade with OIC members, with imports increasing by 14 percent in value and 21 percent in weight. During the same period, Iran imported 12.4 million tons of goods from these countries, valued at USD20.356 billion. Overall, Iran's total trade exchanges with OIC member nations reached 63 million tons, with a combined worth of USD40.7 billion, according to the IRICA figures.
In a related context, Gholam-Hossein Shafeie, the former head of the Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA), emphasized the importance of establishing a joint Islamic market among OIC members over the next decade. Speaking at a gathering of OIC chamber leaders during the "Russia - Islamic World: Kazan Forum 2023," Shafeie urged the organization to prioritize the creation of a common Islamic market, which could be realized through the conclusion of a free trade agreement among member countries and the removal of tariff and non-tariff barriers.
Shafeie noted that experts have been developing plans for an Islamic market and that leveraging their experiences and studies could provide a pathway for progress. He underscored the potential influence of the OIC in the future of global energy markets, asserting that the organization's member states hold significant promise in shaping energy dynamics worldwide.
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