Iran, one of the largest finished long steel exporter in MENA region has exported around 1,491,000 MT long steel during Sy’18 (Jan-Dec’18). Exports were up by around 122% Y-o-Y against 672,364 MT exported during CY’17.
Iraq was the major importer of finished long steel during the period, Iran exported 695,180 MT steel in CY by registering a growth of 170% Y-o-Y against 257,283 MT exported in last calendar year.
Afghanistan was the second largest importer of Iranian long steel. The nation exported 436,068 MT steel to Afghanistan in CY’18. Exports were up by 40% Y-o-Y against 312,356 MT exported in last calendar year.
Finished Long Steel Export to Turkey and Pakistan Increased Post Aug Sanctions
US imposed economic sanctions on Iran in Aug’18, owing to which many countries suspended their trade with Iran. But there were few nation who increased their trade with Iran, among such nations are Turkey and Pakistan.
Iran exported 74,888 MT finished long steel to Turkey in CY’18, out of which 72,600 MT were exported after the sanctions imposed by US. It is to be noted that in CY’17, Iran exported only 6 MT finished long steel to Turkey.
On Parallel lines, Iran exported 42,056 MT finished long steel to Pakistan by registering a growth of 120% Y-o-Y. Post US sanctions, Iran exported around 32,000 MT to Pakistan. The nation exported 18,870 MT finished long steel to Pakistan in CY’17.
Iran Ready to Sign Zero Tariffs Deal with Iraq
According to Mr. Mohammad Javad Zarif, Iranian Foreign Minister, “Iran is willing to ink a deal with Iraq to drop customs tariffs between the two countries (Iran and Iraq). 80 Iranian technical and engineering companies are active in Iraq with contracts worth USD 8 Bn and The Islamic Republic of Iran enjoys very high capacities to reconstruct the post-ISIL Iraq.
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