Iran and Qatar aim to boost non-oil trade to $1 billion annually

Iran is aiming to significantly expand its non-oil trade with Qatar, targeting an annual turnover of $1 billion, according to Mohammad-Ali Dehghan Dehnavi, Iran’s Deputy Minister of Industry, Mines, and Trade, and Chairman of the Trade Development Organization.

Iran is aiming to significantly expand its non-oil trade with Qatar, targeting an annual turnover of $1 billion, according to Mohammad-Ali Dehghan Dehnavi, Iran’s Deputy Minister of Industry, Mines, and Trade, and Chairman of the Trade Development Organization. Speaking during a virtual meeting with Qatar’s Deputy Minister of Industry and Trade, Saleh Majid Al-Khulaifi, Dehnavi stressed the need for practical measures to enhance economic ties between the two nations.

Despite efforts from both sides, economic relations have yet to reach their full potential. Currently, Iranian exports to Qatar primarily consist of fruits and food products, which Dehnavi believes are insufficient to achieve the ambitious trade goal. He emphasized the need to address trade obstacles, streamline visa processes for Iranian businessmen, and simplify inspections in Qatar to foster growth.

Qatari Deputy Minister Al-Khulaifi acknowledged the challenges posed by strict customs regulations but assured efforts to accelerate the clearance of Iranian goods at Qatari ports and expedite visa issuance for Iranian traders. He expressed optimism that these measures would bring the trade turnover closer to the $1 billion target.

Recent data from the Iranian Customs Administration indicates that, during the first seven months of the current Iranian year (March 20–October 21, 2024), non-oil trade between the two nations amounted to 315,000 tons worth $174 million. Iran exported 281,000 tons of non-oil goods valued at $76.8 million to Qatar, while imports from Qatar totaled 33,600 tons worth $97.3 million.

Both sides agreed that overcoming small yet impactful trade-related barriers will be key to achieving their shared economic vision. As talks progress, the emphasis remains on creating a framework for sustained growth and closer bilateral ties.

Copied