Iran says NAM should set up economic blocs

TEHRAN,Aug.30(MNA) - The member states of the Non-Aligned Movement should establish economic blocs in order to boost multilateral trade, the deputy head of the Trade Promotion Organization of Iran (TPOI) stated. Kiyumars Fathollah Kermanshahi told the Mehr news agency that the trade turnover between Iran and other members of the NAM can be increased by at least 50 percent within a period of five years. Trade between Iran and other members of the Non-Aligned Movement amounted to around $43 billion in the past Iranian calendar year, which ended on March 19, accounting for almost $40 percent of Iran’s total $105 billion in non-oil trade, the ISNA news agency cited Customs Administration data as reporting. Iran exported $19.7 billion non-oil goods to NAM member states, while imported $24.1 billion worth of goods last year. Iraq, the UAE, India, and Afghanistan were the main importers of Iranian goods. The UAE, India, Malaysia, and Oman were the major exporters to Iran. It should be noted that China, Russia, Brazil, Mexico, Kazakhstan, Argentina, the Netherlands, Serbia, and Ukraine are among the observer members of NAM which also have trade ties with Iran. NAM is second largest international organization after the United Nations, made up of 120 countries, with an additional 21 observer states. The 16th Summit of the Non-Aligned Movement is currently underway in Tehran.