Trade between Iran and SCO members exceeds US$23 billion

The value of trade between Iran and the members of Shanghai Cooperation Organization (SCO) rose to US$23.165 billion during the first 11 months of the current Iranian calendar year. This was disclosed by Ruhollah Latifi, spokesman of the Islamic Republic of Iran Customs Administration (IRICA) announced.

Iran has cross-border trade with 11 key member states and observer states of the Shanghai Cooperation Organization that include China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Mongolia, Pakistan, India, Afghanistan and Belarus. Among these the largest volume of trade was with China amounting to US$15.518 billion, the IRICA spokesman stated.

He put Iran’s export to the SCO members at 33.339 million tons valued at US$11.173 billion during the period under review. Out of this the highest amount of export has been to China, amounting to US$6.724 billion and the lowest was to Mongolia, amounting to US$412,809.

Iran’s imports from the member countries weighing 8.408 million tons was worth US$11.991 billion Latifi said, adding the highest amount of imports was from China (US$8.793 billion), and the lowest was from Mongolia (US$2.448 million).

The Shanghai Cooperation Organization (SCO) is a Eurasian political, economic and security alliance. Its creation was announced on 15th June 2001 in Shanghai, China by the leaders of China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan. The SCO Charter was signed in June 2002 and became effective on 19th September 2003.