News ID: 314083
Published: 0248 GMT June 20, 2021

Iran’s two-month exports to Syria up: TPO

Iran’s two-month exports to Syria up: TPO

The Trade Promotion Organization of Iran said exports from the country to Syria increased significantly in the two months to May 21.

TPO’s top official on Syria trade said that exports to the Arab country had reached $49 million in value terms over the first two months of the current Iranian year, an increase of 73 percent compared to the similar period in 2020, Press TV reported.

Soheila Rasoulinejad said that export to Syria was responsible for eight percent of all shipments sent from Iran in April and May, making the Arab country the 14th largest purchaser of Iranian goods over the period.

Steam turbines accounted for a bulk of shipments exported to Syria at $30 million in value terms, said Rasoulinejad, adding that Syrian customers had increased their purchases of electric wires, finished steel products and infant formula.

The value of imports from Syria to Iran topped just $2 million between late March and late May, she said.

Iran has sought to increase its trade relations with Syria in recent years as the Arab country is emerging from nearly a decade of terrorism-related violence.

TPO’s Arab and African Office estimates that trade between the two countries could reach a target of $1.5 billion in 2023 and once the economic and trade infrastructure devastated by the war in Syria is reconstructed.

Iran’s exports to Syria had reached $500 million in 2010 just before terrorist groups started to wreak havoc in the country.

Iranian authorities said in February that a direct shipping line will be launched between Iran’s southern port of Bandar Abbas and Latakia on Syria’s Mediterranean coast to help boost bilateral trade.

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