TEHRAN – The third Eurasian Trade Exhibition is underway in Tehran, featuring 200 foreign delegations from member states of the Eurasian Economic Union (EAEU), according to Mohammad-Ali Dehghan Dehnavi, head of Iran's Trade Promotion Organization (TPO).

Speaking at the event's opening ceremony, which was attended by President Masoud Pezeshkian, Dehghan Dehnavi highlighted the significant growth in trade between Iran and EAEU nations, IRNA reported.

 "Since the initial trade agreement between Iran and Eurasian countries was established four years ago, our trade volume has increased by 2.5 times. However, we are still far from our ultimate goals," he stated.

He also noted that Iran’s free trade agreement with the EAEU has been approved by parliament and is awaiting final confirmation from the Guardian Council. This agreement is expected to further facilitate economic exchanges and remove barriers to trade between Iran and EAEU member states.

Key features of the exhibition

The Eurasian Trade Exhibition is being held in a 12,000-square-meter venue in Tehran and has attracted 180 Iranian companies alongside 160 foreign firms from EAEU countries, including Russia, Kazakhstan, Belarus, Armenia, and Kyrgyzstan. Additionally, 230 visiting companies are participating in various business negotiations and specialized panels.

Dehghan Dehnavi described the event as an opportunity for Iranian businesses to explore new markets and evaluate the capabilities of Eurasian nations. "This exhibition provides a platform for companies to establish direct commercial ties, identify investment opportunities, and gain insights into the latest trade developments within the EAEU," he said.

In addition to showcasing products and services, the exhibition features expert-led discussions on trade policies, banking and financial cooperation, customs regulations, and investment strategies. These sessions aim to enhance business collaboration and address challenges facing regional trade.

The TPO head also announced the establishment of a Eurasian trade secretariat within the TPO, which will oversee Iran’s commercial relations with the EAEU. "To further support Iranian traders, five commercial centers have been launched in neighboring countries, providing essential services to facilitate trade and investment," he added.

Presidential visit and trade commitments

During his visit to the exhibition, President Pezeshkian toured several booths and engaged in discussions with business representatives from various industries. He emphasized the strategic importance of deepening Iran’s economic ties with the EAEU and pledged the government’s full support for expanding trade relations.

Accompanying the president, Minister of Industry, Mining, and Trade Mohammad Atabak underscored the potential of Iran-EAEU cooperation. "The free trade agreement between Iran and the EAEU is a crucial step toward boosting exports, reducing trade barriers, and strengthening economic partnerships," he stated.

$10 billion trade target and future prospects

Atabak revealed that Iran’s current trade volume with the EAEU stands at $3.6 billion, but the government has set a target of $10 billion in the near future. He stressed the significance of the EAEU as an economic bloc with a combined gross domestic product of $5 trillion and a population of 200 million.

The minister highlighted the elimination of 87 percent of tariffs as a major incentive for Iranian exporters and foreign investors. He also pointed to efforts to develop financial and banking cooperation, which he said would create a more efficient trading environment.

"With stronger economic ties, we can enhance Iran’s export capacity, foster technological collaboration, and create new opportunities for investment in key industries," Atabak concluded.

EF/MA