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convenient access to CE marking for European Economic Area standards
Turkey’s gas imports from Russia, Iran decline sharply in H1 as LNG and Azerbaijani gas imports grow
Iran’s exports to EEU up 17% y/y since start of PTA
environmental protection has been signed by the Iranian Standards and Quality Inspection Company (ISQI) and Turkish counterpart SZUTEST, Khodro Persia has reported.
Iranian manufacturers pursuing the CE marking (“CE” is informally indicated as an abbreviation of "Conformité Européenne", French for "European Conformity") as a stamp of approval key to the marketing of their products on EEA and other export markets, previously had to send their products to Europe for the required tests and certification. This process is relatively lengthy and costly, but the ISQI deal with SZUTEST means that they can now instead obtain the CE marking more easily and at a lower cost through a new office in Turkey. Turkey has had a customs union with the EU for a quarter of a century. Among Iranian items reportedly already certificated by SZUTEST are electric boards, pumps and motors. Other items from Iran, including boilers, tanks and bitumen, are awaiting CE approvals by SZUTEST prior to sales into Europe.
Turkey’s natural gas imports from Iran and Russia declined by 44.8% y/y and 41.5% y/y, respectively, in the first half of this year, according to Energy Market Regulatory Board data compiled by state-run news service Anadolu Agency.
The key factor was growing imports of cheaper liquefied natural gas (LNG) at the expense of piped gas. Turkey’s pipeline gas imports fell by 22.8% while LNG imports grew 44.8% in the first half of the year.
Turkey’s natural gas imports in H1 overall dropped by 3.5% to 22.5bn cubic metres (bcm). Of this, the country imported 12.1 bcm via pipeline and 10.3 bcm as LNG.
Turkey purchased 2.02bcm of gas from Iran with no imports between April and June while imports from Russia declined to 4.7bcm.
The country imported its highest amount of gas, at 5.44 bcm, in the first half of this year from Azerbaijan. The volume marked a 23.4% increase compared to the same period of 2019.
Iran’s exports to the Moscow-led Eurasian Economic Union (EEU)—grouping Russia, Belarus, Kazakhstan, Kyrgyzstan and
Armenia—have increased 17% y/y since the Islamic Republic and the bloc launched a temporary two-year preferential trade agreement (PTA) on October 21 last year, IFP reported on August 5.
Hamid Zadboom, Iranian deputy minister of industry, mines and trade said that Iran’s exports to the former Soviet countries stood at a value of $681mn, with the near one-fifth gain achieved despite the onset of the coronavirus (COVID-19) pandemic early this year. Bilateral trade between Iran and the EEU member states had reached $2.4bn, up 14% y/y, since the PTA kicked off, Zadboom added.
Tehran has hopes of expanding its relations with the EEU after the two-year PTA expires.
Iran had a $459bn economy in 2019 according to the International Monetary Fund (IMF).
5.1.3 Gross international reserves
Iran’s gold prices skyrocket in Iran
Iran’s gold market has skyrocketed, following suit with the dollar, euro and sterling prices on Iran’s so-called “free” market. The Azadi coin hit IRR108mn on the street, while the Imami peaked at IRR115mn on July 18.
According to the IMF in its Regional Economic Outlook on May 4, the
25 IRAN Country Report September 2020 www.intellinews.com
