In 2024, trade between Iran and the European Union saw a slight decline, totaling €4.150 billion from January to November, a 3% drop compared to the previous year. November alone recorded €377 million, down from €467 million in November 2023. Germany remains Iran’s primary EU trading partner, followed by Italy, the Netherlands, and Belgium. Despite the decrease, the EU continues to be a crucial economic partner for Iran, highlighting the need for ongoing dialogue and collaboration amid geopolitical challenges and market fluctuations. The potential for future growth in trade exists, contingent on stability and cooperation between the regions.
Iran’s Minister of Roads, Farzaneh Sadegh, and Azerbaijan’s Minister of Digital Development, Rashad Nabiyev, recently met to discuss advancements in the International North–South Transport Corridor (INSTC). The meeting highlighted their commitment to enhancing transport cooperation, especially in rail and port operations. Key initiatives included launching a scheduled freight train service and introducing tariff discounts to boost trade. Gilan Province was emphasized as a strategic logistics hub, with the Rasht–Astara railway seen as pivotal for increasing transit volumes. Joint expert committees were formed to address challenges at the Azerbaijani border, aiming to strengthen economic ties and enhance regional connectivity.
West Azarbaijan province has significantly enhanced its non-oil exports, achieving 2.544 million tons valued at $1.658 billion to 73 countries from March 21 to September 22. Key exports included steel ingots, tiles, ceramics, ribbed rebar, and sponge iron, primarily sent to Iraq, Turkey, the UAE, Armenia, and Afghanistan. The province also imported 218,000 tons of goods worth $597 million from 48 countries, supporting local industries and reflecting a balanced trade exchange. The Customs Office is committed to improving trade relationships and adapting to evolving global dynamics, fostering economic growth and opportunities for local businesses.
From November 10 to 12, 2025, a vital videoconference chaired by Russia was held to finalize a strategic draft action plan for enhancing multilateral trade and economic cooperation among Shanghai Cooperation Organization (SCO) member states for 2026-2030. This plan will be proposed for signing at the upcoming Council of Heads of Government meeting on November 18, 2025, in Moscow. The SCO, founded in 2001 and currently comprising 9 member states, including India, China, and Russia, aims to strengthen economic ties and navigate global challenges. The discussions underscore the commitment of member states to collaborative economic growth and stability in the region.
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Iran’s exports have surged from $235,672 last year to $23.319 million, marking a remarkable 9,795 percent increase, according to Rouhollah Latifi, spokesman for Iran’s International Relations and Trade Development Committee. This growth indicates a strong recovery in Iran’s trading capabilities. In the first nine months of the current calendar year, Iran imported 15.5 tons of mono-butyl ether from Saudi Arabia, reflecting increasing trade between the two nations. Enhanced trade relations may lead to improved diplomatic ties and economic stability, job creation, and diversification of Iran’s economy, positioning the country for future growth in international markets.