TEHRAN – Iran’s exports to the Americas surged 4.5 times in the Iranian year 1403 (ended late March 2025) compared to the previous year, while a free trade agreement with Venezuela is just one step away from full implementation after two decades, a senior trade official said.

Ahmad Firouzi, Director General of the Europe and Americas Office at the Trade Promotion Organization (TPO) of Iran, said on Sunday that while imports from the Americas saw a slight decline in 1403, Iranian exports to the continent grew significantly. Notably, official exports to Brazil rose by a staggering 8.5 times compared to the previous year.

Firouzi noted that in line with the Iranian government’s push to access new markets, several specialized meetings were held in 1403 targeting countries such as Canada and Mexico. He added that under the policies of the 14th administration, Iran has actively pursued the signing of trade agreements, and most of the groundwork for a free trade deal with Venezuela has already been completed.

He said only one more step remains for the Iran-Venezuela free trade agreement to come into force in 1404, marking the first such deal between the two nations in 20 years.

EF/MA