Iran increases non-oil trade with Shanghai Cooperation Organization
The uptick in trade comes at an important time for Iran’s relations with Russia, Kazakhstan and India.
Iran's trade is increasing with members of the Shanghai Cooperation Organization (SCO).
Iranian Customs Administration spokesman Rouhollah Latifi said today that Iran exported $5.5 billion worth of non-oil goods to SCO member states in the second quarter of 2022, constituting a 20% increase from 2021. Iran imported $4.34 billion in non-oil goods from SCO members during the quarter, which was a 41% increase from last year, the official Islamic Republic News Agency reported.
China was Iran's biggest import and export partner by far, according to data published by the agency.
Why it matters: The Beijing-based Shanghai Cooperation Organization works to enhance trade, promote cooperation and maintain stability and security in Asia. China, Russia, and India are members, as are Kazakhstan and several other former Soviet Union states in Central Asia. Turkey is also a “dialogue partner” in the organization.
