News ID: 116131
Published: 0229 GMT April 20, 2015

50% of Iran's trade with neighbors

50% of Iran's trade with neighbors

Some 50 percent of Iran's $140 billion annual trade are conducted with neighboring countries, said a deputy foreign minister.

Speaking in the meeting of Iran’s Chamber of Commerce, Industries, Mines and Agriculture on Sunday, Ebrahim Rahimpour added that the government is pursuing a win-win strategy in nuclear negotiations with the P5+1 and has adopted a development approach in international transactions, IRNA reported.

"Iran should not implement profit-seeking policies in economic relations with poor neighboring countries such as Afghanistan. Currently, Tehran's trade transactions with Kabul stand at over $3 billion," he said.

Rahimpour noted that in the past few years, the Foreign Ministry did not pursue economic diplomacy in its foreign relations, adding that Turkey has ceded economic affairs to the private sector.

"The government also plans to privatize a major segment of its economic activities," he said.

Rahimpour urged the government to boost non-oil exports and reduce dependence on oil revenues.

"Although Western sanctions have helped us get closer to our target, we still have a long way ahead," he said.

Earlier, Rahimpour said Iran-Europe transactions amounted to $24 billion, while at present the country's trade with Turkey alone stands at $23 billion.

"Tehran and Ankara do not share similar political views on regional issues. Nevertheless, they have separated economy from policy in their relations," he said.

The official noted that Iran's trade with China stands at $40 billion.

Rahimpour said Iran has favorable economic relations with China, India, Turkey, the UAE and Iraq.

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