Other BriefingsIran’s Imports From Kyrgyzstan Up 119% As INSTC & EAEU FTA Begins To Make An Impact
Iran’s imports from Kyrgyzstan increased by 119% in value and 36.2% in volume during the first month of the current Iranian year (March 21 through April 20, 2023), compared to the same month in the last year. Iran imported a total of 256 tons of goods worth approximately US$414,000 from Kyrgyzstan during the month, mainly agricultural products and phosphoric acid.
In total, Iran imported 6,930 tons of goods from Kyrgyzstan worth approximately US$8.36 million over the last Iranian year (March 21, 2022 through March 20, 2023), which was an increase of 180% in value and 22.3 percent in volume compared to the preceding Iranian year.
The data has some significance as Iran has a recent Free Trade Agreement with the Eurasian Economic Union. Other Middle Eastern countries, including Saudi Arabia and the UAE are considering the same. Kyrgyzstan is a member of the EAEU along with Armenia, Belarus, Kazakhstan and Russia. EAEU multinational trade with non-members has also increased.
Trade is also being facilitated by new rail connectivity from Kyrgyzstan to Uzbekistan and into Iran, a benefit of part of the INSTC routes that features Iran as a significant trade hub.
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- Russia And UAE To Discuss EAEU Free Trade Agreement
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