TEHRAN - Tehran Permanent International Fairgrounds is going to host an international exhibition for introducing the Eurasia Economic Union (EAEU)’s trade potentials in early 2021, Managing Director of Iran International Exhibitions Company (IIEC) said.

According to Bahman Hosseinzadeh, the first international exhibition of EAEU trade opportunities is planned to be held during the Iranian calendar month of Bahman (January 20-February 18, 2021), IRNA reported.

All the EUAE member countries are going to have active participation in this exhibition, the official said.

This exhibition is also a good opportunity to introduce the capabilities of Iranian producers and upgrade their industrial and commercial competitiveness capacities, while branding and introducing Iranian products to the Eurasian member countries, Hosseinzadeh stressed.

He said that the Eurasia International Exhibition will act as a link for the expansion of relations between Iran and EAEU members by bringing economic convergence and strengthening mutual relations.

“This exhibition will strengthen Iran's economic diplomacy with the members of this union and provide new capacities for the country’s traders in order to develop non-oil exports,” he added.

Iran and the Eurasian Economic Union signed a preferential trade agreement last October, based on which 860 commodity items will be exchanged between Iran and the five EAEU members.

Iran’s trade data show that in the past few months following the signing of the agreement, Iranian exports to these countries have increased by nearly 63 percent.

According to the spokesman of the Islamic Republic of Iran Customs Administration (IRICA), the value of trade between Iran and the EAEU members reached $2.112 billion since the implementation of the preferential trade agreement on October 27, 2019.

Some $1.528 billion of the mentioned figure has been the share of Iran’s imports and $584 million was gained from the exports, Ruhollah Latifi said in early June.

The two sides have it on the agenda to continue negotiations for the expansion of this agreement in its second year.

EF/MA