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Iran private sector, ECO chief urge stronger trade links
Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) and the Economic Cooperation Organization (ECO) have emphasized the necessity of organizing trade summits and specialized exhibitions to bolster economic collaboration among member states.
In a meeting in Tehran on Tuesday, ICCIMA President Samad Hassanzadeh and ECO Secretary General Asad Majeed Khan addressed the longstanding lack of implementation of previously agreed-upon accords among ECO members.
Hassanzadeh highlighted six key agreements under the ECO framework aimed at facilitating trade, lamenting the lack of progress on these initiatives.
These agreements, including the establishment of a cultural institutions, reinsurance companies, a trade development bank, and a standardization institute, are essential to enhancing inter-member relations, Hassanzadeh stated.
He described the current intra-ECO trade volume as insignificant, accounting for as low as 7% of global trade. Hassanzadeh highlighted the need for giving a boost to trade exchanges between member states.
Challenges including lengthy visa processes, the absence of direct flights, inconsistent financial channels, and varying trade regulations were cited as significant barriers to deeper cooperation.
ECO Secretary General Majeed Khan, said he has been contributing to drafting the ECO trade agreement over the past two decades, while regretting that it has not been implemented yet.
ECO has the potential to play a pivotal role in fostering trade alliances, he said, underlining his commitment to reinvigorating the organization during his tenure.
Majeed Khan called for a review of past agreements, streamlined tariffs, and increased government-to-government collaboration to overcome structural and legal obstacles.
ECO's collective trade volume, estimated at $1.8 billion, remains a fraction of global trade, he said, underscoring the urgency of more efforts to encourage trade exchanges between the member countries.
Iran, Tajikistan discuss preferential trade, full implementation of visa-free travel
Iran and Tajikistan have emphasized the need to expedite a preferential trade agreement and completely eliminate visa requirements to boost bilateral economic relations.
During a meeting in Tehran on Tuesday between President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Samad Hassanzadeh and Tajik Ambassador to Tehran, Nizomiddin Zohidi, both sides highlighted untapped trade potential and the importance of closer collaboration between their business communities.
Hassanzadeh noted that the current trade volume falls far short of the two countries' capabilities. "Iran has significant potential in knowledge-based companies, engineering services, food industries, petrochemicals, construction materials, tourism, and information technology," he said, expressing Iran's readiness to meet Tajikistan's needs.
He also called for joint efforts to facilitate trade by organizing delegations and specialized exhibitions, adding that full implementation of visa-free travel could pave the way for deeper partnerships, including the establishment of joint industrial zones.
Zohidi echoed the sentiment, acknowledging progress in trade volume, which has reportedly increased tenfold since 2020. However, he urged efforts to boost bilateral trade to $1 billion, inviting Iranian business leaders to explore opportunities in Tajikistan.
Addressing visa challenges, the Tajik ambassador noted that the current exemption applies only to flights between Tehran and Dushanbe and does not include flights operating between Mashhad and Dushanbe. "We plan to launch a new route between Shiraz and Dushanbe, and fully removing visa requirements will enhance tourism and trade."
Also speaking during the meeting, Mohammad Hossein Roshanak, head of the Iran-Tajikistan Joint Chamber of Commerce, criticized high tariffs on Iranian goods in Tajikistan compared to Uzbek imports, calling for fair trade practices to reduce costs and enhance competitiveness.
Iran, Tajikistan discuss preferential trade, full implementation of visa-free travel
Iran and Tajikistan have emphasized the need to expedite a preferential trade agreement and completely eliminate visa requirements to boost bilateral economic relations.
During a meeting in Tehran on Tuesday between President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Samad Hassanzadeh and Tajik Ambassador to Tehran, Nizomiddin Zohidi, both sides highlighted untapped trade potential and the importance of closer collaboration between their business communities.
Hassanzadeh noted that the current trade volume falls far short of the two countries' capabilities. "Iran has significant potential in knowledge-based companies, engineering services, food industries, petrochemicals, construction materials, tourism, and information technology," he said, expressing Iran's readiness to meet Tajikistan's needs.
He also called for joint efforts to facilitate trade by organizing delegations and specialized exhibitions, adding that full implementation of visa-free travel could pave the way for deeper partnerships, including the establishment of joint industrial zones.
Zohidi echoed the sentiment, acknowledging progress in trade volume, which has reportedly increased tenfold since 2020. However, he urged efforts to boost bilateral trade to $1 billion, inviting Iranian business leaders to explore opportunities in Tajikistan.
Addressing visa challenges, the Tajik ambassador noted that the current exemption applies only to flights between Tehran and Dushanbe and does not include flights operating between Mashhad and Dushanbe. "We plan to launch a new route between Shiraz and Dushanbe, and fully removing visa requirements will enhance tourism and trade."
Also speaking during the meeting, Mohammad Hossein Roshanak, head of the Iran-Tajikistan Joint Chamber of Commerce, criticized high tariffs on Iranian goods in Tajikistan compared to Uzbek imports, calling for fair trade practices to reduce costs and enhance competitiveness.
Iran, Tajikistan discuss preferential trade, full implementation of visa-free travel
Iran and Tajikistan have emphasized the need to expedite a preferential trade agreement and completely eliminate visa requirements to boost bilateral economic relations.
During a meeting in Tehran on Tuesday between President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Samad Hassanzadeh and Tajik Ambassador to Tehran, Nizomiddin Zohidi, both sides highlighted untapped trade potential and the importance of closer collaboration between their business communities.
Hassanzadeh noted that the current trade volume falls far short of the two countries' capabilities. "Iran has significant potential in knowledge-based companies, engineering services, food industries, petrochemicals, construction materials, tourism, and information technology," he said, expressing Iran's readiness to meet Tajikistan's needs.
He also called for joint efforts to facilitate trade by organizing delegations and specialized exhibitions, adding that full implementation of visa-free travel could pave the way for deeper partnerships, including the establishment of joint industrial zones.
Zohidi echoed the sentiment, acknowledging progress in trade volume, which has reportedly increased tenfold since 2020. However, he urged efforts to boost bilateral trade to $1 billion, inviting Iranian business leaders to explore opportunities in Tajikistan.
Addressing visa challenges, the Tajik ambassador noted that the current exemption applies only to flights between Tehran and Dushanbe and does not include flights operating between Mashhad and Dushanbe. "We plan to launch a new route between Shiraz and Dushanbe, and fully removing visa requirements will enhance tourism and trade."
Also speaking during the meeting, Mohammad Hossein Roshanak, head of the Iran-Tajikistan Joint Chamber of Commerce, criticized high tariffs on Iranian goods in Tajikistan compared to Uzbek imports, calling for fair trade practices to reduce costs and enhance competitiveness.
Iran Chamber of Commerce to host 41st ICCD general assembly in 2025
President of the Islamic Chamber of Commerce and Development (ICCD) Abdullah Saleh Kamel have announced that the next meeting of ICCD general assembly will be hosted by Iran Chamber of Commerce, Industry, Mines, and Agriculture (ICCIMA) in 2025.
The ICCD board of directors convened in Istanbul, Turkey, on Thursday where they reviewed a wide range of issues, including the amendment of the statutes already proposed and discussed in an ICCD executive committee meeting.
The participants decided that the member chambers offer their proposals to the secretariat within three months so as to be discussed in the future meetings of the board of directors.
Representatives from the chambers of commerce of Iran, Chad, Djibouti, Egypt, Guinea, Ivory Coast, Jordan, Kuwait, Mauritania, Niger, Oman, Pakistan, Palestine, Qatar, Saudi Arabia, Sudan, Turkey, the UAE, and Azerbaijan were present at the meeting.
The Iranian delegation was comprised of Samad Hassanzadeh, the president of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA), Hossein Pirmoazzen and Keyvan Kashefi, two ICCIMA board members, Mohammadreza Karbasi, the director of the Islamic Chamber Research and Information Center (ICRIC), as well as other representatives from Iranian consulate in Istanbul.
Iranian representatives proposed a special working group of well-known lawyers be formed for mulling the proposals offered by the member chambers for making the final amendments to the ICCD statutes.
Iran Chamber of Commerce president highlights expansion of ties with Uzbekistan
President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) has called for more enhanced exchanges between Iran and Uzbekistan.
Samad Hassanzadeh, who is on a visit to Uzbekistan, made the remarks in a meeting on Friday with Tashkent mayor Shavkat Umurzakov.
During the meeting, the two sides stressed that the trade ties between Iran and Uzbekistan is too low compared to the huge potentials of the two countries.
The Iran Chamber of Commerce president said that Iran exports an annual $2 billion worth of food abroad and also exports agricultural equipment, including tractors, to other countries.
He also referred to Iran’s good potentials in providing techno-engineering services and petrochemicals, construction of power plants, roads and bridges which he believed can also be used in economic cooperation with Uzbekistan.
Hassanzadeh added that Iran has invested some $4 billion in power plants and road building projects of Sri Lanka and Tajikistan.
He also said that Iran enjoys good potentials in the area of providing urban infrastructure and waste management which could be used for connections between the municipalities of Tehran and Tashkent.
Tashkent mayor, for his part, said that the ground is prepared for further cooperation between Iran and Uzbekistan’s capital.
Umurzakov referred to a new directive issued by Uzbekistan’s president, noting that new steps can be taken for cooperation with Iranian businesspeople.
Noting that Uzbekistan is the most industrialized country in the Central Asia region, he said that the country can serve as a gateway into this region for Iran.
He added that the trade exchanges between Iran and the city of Tashkent was reported at $100 million which he believed is too insignificant. The Tashkent mayor put his country’s GDP at $100 billion, noting that given Iran’s potentials, bilateral exchanges between the two countries have to further increase.
Iran seeks investment in Uzbekistan’s Khorezm energy, tourism projects
President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) says Iran and Uzbekistan can cooperate in infrastructural, energy, and tourism projects.
Speaking during an Iran-Uzbekistan Joint Business Forum in Khiva, west of Khorezm region of Uzbekistan on Friday, Samad Hassanzadeh said that both Iran and Uzbekistan enjoy abundant economic, natural potentials as well as expert manpower.
“We can engage in joint investment projects in the areas of energy, transportation, agriculture and tourism,” he said.
The president of Iran Chamber of Commerce also stressed that Iran and Uzbekistan enjoy huge economic potentials. He added that if the infrastructural obstacles are removed, they will witness significant increase in bilateral exchanges.
Iran seeking to enter into payment arrangements with OIC countries
Iran is seeking to set up independent payment systems with Muslim countries to avoid sanctions that hamper regional and international trade.
Iran’s chief banker said on the sidelines of a summit of central bank governors of the Organization of Islamic Cooperation (OIC) in Turkey’s Istanbul on Monday that he had discussed the issue of creating bilateral and multilateral payments systems in talks with counterparts from the OIC.
“This issue has never been raised at a multilateral level ... we are seeking to have it implemented with member countries of the OIC,” said Mohammad Reza Farzin.
Farzin, who is the governor of Central Bank of Iran (CBI), said the creation of payment systems with Muslim countries can facilitate the use of national currencies in trade.
He also held talks with the governor of the Central Bank of Turley, a key member of the OIC with which Iran has considerable economic and trade ties.
During the meeting, Farzin and Fatih Karahan discussed infinitives for expansion of monetary, financial and economic cooperation between Iran and Turkey, according to a report by Iran’s official IRNA news agency.
Iran has managed to enter into bilateral financial arrangements, including independent payment systems, with members of the BRICS grouping of developing countries, including Russia.
That has helped the country lessen the impacts of US sanctions targeting its access to the dollar-based international banking system.
Iran is seeking to replicate the experience in its dealings with the OIC, an organization which has 57 members.
Iran’s customs office figures show the country’s non-oil trade with members of the OIC rose by 14% year on year in the six months to late September to reach some $32.2 billion.
TRADE AND ECONOMIC POTENTIAL OF KAZAKHSTAN WITHIN ECO MARKETS IN THE NEW GEO-ECONOMIC REALITIES
Iran, Turkey urged to focus on joint investments
President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Samad Hassanzadeh has urged the need for Iran and Turkey to focus on joint investments alongside promotion of bilateral trade.
Hassanzadeh made the remarks in a meeting in Tehran on Tuesday with Ali Rıza Güney, a Turkish foreign ministry official in charge of Iran and Iraq affairs.
He referred to the foreign policy of President Masoud Pezeshkian’s administration in reaching out to the world, and said that Iran is seeking to give a boost to its trade relations with all countries, including Turkey, in spite of all the pressures and restrictions caused by sanctions.
Highlighting Iran’s support for foreign investment, the Iran Chamber of Commerce president said that the Turkish investors are now present in Iran’s Azarbaijan region and are well respected by the Iranian government.
He also said that the ground is prepared for Turkish investments in Iran’s petrochemical, oil and food projects, as he believed that the pressure of sanctions will be eased in the near future.
The Turkish official, for his part, said that affected by foreign parameters, the level of trade between Iran and Turkey is far from the ideal point.
He referred to Iran’s rich mining reserves, while noting that the biggest potential of the country is its manpower.
Some 2.5 to 3 million Iranian tourists annually visit Turkey, with some of them buying residential buildings in the country, the official said.
He said that the two countries have to get prepared for the period when the sanctions on Tehran are lifted. The official, however, added that they should diversify transportation corridors and make more use of their neighborliness potentials.