News ID: 316296
Published: 0136 GMT September 14, 2021

Iran's four-month trade with SCO countries tops $9.8b: IRICA

Iran's four-month trade with SCO countries tops $9.8b: IRICA

Economic Desk

Iran traded 15.76 million tons of goods, worth $9.82 billion, with the member states of the Shanghai Cooperation Organization (SCO) during the first four month of the current Persian calendar year (started March 21), according to the latest report by the Islamic Republic of Iran Customs Administration (IRICA).

Exports to the eight SCO countries hit 13.37 million tons, worth $5.64 billion, during the period, reported.

China accounted for the highest volume of imports from Iran among SCO states with 9.89 million tons, valued at $4.36 billion.

India, with 1.73 million tons worth $495.07 million, and Pakistan, with 910,531 tons worth $341.39 million, were the other major destinations of the Iranian goods and products in that period.

Meanwhile, imports from SCO stood at 2.39 million tons worth $4.18 billion during the same period.

Top three SCO exporters to Iran were China with 1.02 million tons worth $3.13 billion, India with 408,205 tons worth $440.86 million, and Russia with 754,848 tons worth $429.78 million.

Major exported goods included liquefied gas, polyethylene, semi-finished steel products, methanol, gasoline, steel ingots, liquid propane, bitumen and copper cathode.

Iran’s non-oil trade with SCO members stood at 47.93 million tons worth $25.63 billion in the previous Persian year.

Iranian President Seyyed Ebrahim Raeisi is scheduled to fly to Dushanbe, Tajikistan, to participate at the upcoming Shanghai Cooperation Organization Summit on September 16-17.

The SCO leaders are expected to decide on the admission of Iran to the organization, according to Special Envoy of the Russian President for SCO Affairs Bakhtiyor Khakimov.

"The accession process is not a one-time step. There is a certain procedure stipulated in the SCO documents,” Russian news agency TASS quoted him saying last Thursday.

“We expect that in Dushanbe, the Council of Heads of State will make a decision on the commencement of Iran’s admission to the SCO, which means the launching of the negotiation process to agree on the documents according to which Iran will accede to the legal and contractual framework of the Shanghai Cooperation Organization."

Khakimov recalled that the accession process for India and Pakistan had taken about two years.

"Generally, this cannot be done faster, because the documents are approved by the countries’ heads and the SCO summit takes place in the format of annual meetings. So, the beginning of the admission procedure means that the talks can be launched in the near future after such a decision is made," he added.



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