SCO an opportunity for Iran to expand non-oil export

Tehran, IRNA – Development of interactions with member states of the Shanghai Cooperation Organization (SCO) will provide the Islamic Republic of Iran with a unique opportunity to multiply non-oil exports and improve its economic situation, an Iranian official believes.

All member states of the SCO supported Iran’s full membership in the organization on the last day of the 21st SCO summit in Dushanbe, Tajikistan. The membership will bring about political, security, and economic opportunities for Tehran and paves the way for expansion of trade exchanges between Iran and other member states.

Head of the Non-Oil Export Promotion Committee of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Jamshid Nafar told IRNA on Friday that the official membership is merely the beginning of a path, which needs creation of new infrastructure to help burgeon trade and economic development.

Nafar pointed out that Iran enjoys a unique geographical situation, which can be enhanced through membership in international and regional organizations like the SCO.

According to the official, the membership in the SCO is in line with Iran’s strategy of developing relationships with the world, but this aim needs some efforts such as lifting anti-Iran economic and banking sanctions.

The SCO is an effective regional and intra-state organization, which was established by leaders of China, Russia, Kazakhstan, Tajikistan, and Uzbekistan in 2001.

Prior to the 21st summit, the SCO consisted of eight permanent member-states, including India, Kazakhstan, China, Kyrgyzstan, Pakistan, Russia, and Uzbekistan; as well as four observer states of Afghanistan, Belarus and Mongolia, and Iran; and six dialogue partners of Azerbaijan, Armenia, Cambodia, Nepal, Turkey, and Sri Lanka.

The organization is of great importance because it has been established to strengthen regional security and stand against Western, NATO, and US unilateralism.

The SCO consists of 40 percent of land and one-fourth of the gross domestic product of the world, so it can provide Iran with a great opportunity to expand trade ties in the regional arena.

Iran's trade ties with the SCO member states stood at 55 million tons worth 15.154 billion dollars in the last Iranian calendar year (March 21, 2020 to March 20, 2021).

China is Iran's main trade partner among the SCO member states. The trade volumes with China, India, Afghanistan, Russia, and Pakistan stand at 3.4, 2.3, 1.6, and 1.2 billion dollars respectively.