Trade between Iran and SCO members exceeds $ 23 billion in 11 months

TEHRAN – The value of trade between Iran and members of the Shanghai Cooperation Organization (SCO) reached $ 23.165 billion in the first 11 months of the current Iranian calendar year (March 20, 2020-18 February 2021), spokesperson for Islam Customs Administration of the Republic of Iran (IRICA) announced.

Ruhollah Latifi estimated the weight of goods traded between the two sides at more than 41.747 million tonnes, IRNA reported.

Iran has cross-border trade with 11 key member states and observer states of the Shanghai Agreement, including China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Mongolia, Pakistan, India, Afghanistan and Belarus, among which the largest volume of trade is with China which is $ 15.518 billion, said the spokesperson for IRICA.

He estimated Iranian exports to SCO members at 33.339 million tonnes valued at $ 11.173 billion in the mentioned 11-month period, and said the highest amount of exports was to China, which was $ 6.724 billion, and the lowest to Mongolia, which was $ 412,809.

Iran’s imports from the mentioned countries amounted to 8.408 million tonnes valued at $ 11.991 billion during the said period, Latifi said, adding that the highest amount of imports came from the China ($ 8.793 billion) and the lowest of Mongolia ($ 2.448 million).

The Shanghai Cooperation Organization (SCO), or Shanghai Pact, is a Eurasian political, economic and security alliance, the creation of which was announced on June 15, 2001 in Shanghai, China, by the leaders of China, the Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan; The Charter of the Shanghai Cooperation Organization, officially establishing the organization, was signed in June 2002 and entered into force on September 19, 2003.

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