Iran urges private sector role in Eurasian trade
Qadir Qiafeh, vice president of the Iran Chamber of Commerce, Industries, Mines and Agriculture, and board member Abdollah Mohajer Darabi made the comments during the InnoProm Belarus 2026 industrial exhibition, where Iranian companies showcased their capabilities and explored cooperation with businesses from Belarus and other Eurasian countries. A joint Iran-Belarus economic commission was also held during the visit, with officials and business representatives examining opportunities in industry, mining, energy, pharmaceuticals, medical equipment, technology and joint investment. Qiafeh said the exhibition provided an opportunity to build links among businesses from Iran, Belarus and other Eurasian markets, adding that advanced technologies in oil, gas and petrochemicals, as well as pharmaceuticals and medical equipment, should be given greater attention. He said Iranian pharmaceutical companies had significant production capabilities and had already exported some products to Eurasian markets. Facilitating such exports could significantly increase trade over the next four to five years, he said. Qiafeh said Iran had failed to secure a share of Eurasian markets commensurate with its potential in the years after the Soviet Union’s collapse because of its greater focus on Western markets, despite significant opportunities in energy, mining and essential goods. He said Russia had imported as much as $285 billion worth of goods in some years, while Iran’s trade with Russia stood at about $4.5 billion, highlighting the potential for expansion. He added that the free trade agreement with the Eurasian Economic Union had created new conditions for tapping the regional market. Mohajer Darabi said the combined trade potential of Eurasian countries exceeded $1 trillion, while Iran’s share of the bloc’s market remained insignificant. Iran’s exports to Belarus currently stood at about $80 million, he said. He added that Iran-Russia trade, currently about $4 billion, could rise to $20 billion in a relatively short period if obstacles were removed and appropriate planning was put in place.