MNA – Deputy Minister of Industry, Mine and Trade Hamid Zadboum said that contract inked between Iran and Eurasian Economic Union (UAEU) will increase Iran’s value of trade by $15 billion in three years.

He made the remarks on Sun. in a Conference of Familiarity with Trade Opportunities of Iran and EAEU Agricultural Sector and pointed to the contract signed between Iran and five Eurasian countries including Russia, Kazakhstan, Kyrgyzstan, Armenia and Belarus with regards to the trade of 862 goods and added, “implementation of this contract started on Oct. 27 and it is expected that it will lead to free trade between Iran and EAEU within the next three years.”

Turning to the $855 billion market of Eurasia and added, “Iran accounts for less than 0.3 percent share in Eurasian market.”

Upon signing and sealing the mentioned contract, Iran’s trade value will increase between $10 to $15 billion, the deputy industry minister added.

He then put the trade value of the country in the first six months of the current year (from March 21 to Sept. 22) at $42 billion.

Iran exported about $21 billion worth of products in the six months of the current year, showing a 22.5 percent hike in terms of weight, he added.