Iran records $37.2 billion in trade with members of Shanghai Cooperation Organization

Iran’s trade with members of the Shanghai Cooperation Organization (SCO) in the last Persian year (March 2021-March 2022) amounted to 37.2 billion dollars, showing 33 per cent growth compared to the same period of the last year.

Head of Iran’s Customs Administration Rouhollah Latifi said on May 1 that the country traded 54,856,000 tons of goods worth 37.16 billion dollars with SCO members in that period, the IRNA news agency reports. 

Iran exported 45,349,000 tons (20.6 billion dollars) of goods to SCO members in aggregate, while it imported 9,507,000 tons (16.5 billion dollars) to those countries, according to the official.

Iran’s exports saw 41 per cent growth, while its imports increased by 24 per cent in the period.

On September 17, 2021, it was announced that Iran’s permanent membership in the SCO was approved during the meeting of the SCO Council of Heads of State held in Dushanbe, the capital of Tajikistan, with China’s suggestion.

The Shanghai Cooperation Organization (SCO), or Shanghai Pact, is a Eurasian political, economic, and security alliance, the creation of which was announced on June 15, 2001, in Shanghai, China by the leaders of China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan.