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nanomaterials is available in the country.
Iran, the council added, uses nanotechnology in sectors including health, building construction, aviation, shipping, oil and petrochemicals, textiles, water and the environment, agriculture, and automobiles.
5.1.3​ Gross international reserves
5.2​ FTA, multilateral agreements
Iran’s foreign exchange reserves $85bn in 2020, estimates IMF
According to the IMF in its Regional Economic Outlook on May 4, the value of Iran’s gross official reserves was estimated to reach $108.4bn in 2020.​ The country’s gross official reserves will experience a $13.3bn jump in the current year rising from last year’s $95.1bn.
In an April report, ​the IMF predicted that Iran's foreign exchange reserves would be $85bn in 2020,​ but around 90% of the reserves are frozen abroad by sanctions.
Iranian official envisages trade with EEU soaring from $30bn to $3.5bn
Iran hopes for new five-year deal with Russia
Potential exists to boost Iran’s annual trade with the five member countries of the Russia-led Eurasian Economic Union (EEU) to $30bn from the present $3.5bn, according to the deputy president of the Trade Development Organisation of Iran (TDO), as reported by IRNA.
For two years, Iran and the EEU—made up of Russia, Belarus, Armenia, Kazakhstan and Kyrgyzstan—have operated a preferential trade agreement (PTA) covering more than 800 products. That deal is set to expire towards the end of this year, but Iran is seen as angling for full membership of the bloc as the next stage of mutual trade development. There is speculation that Speaker of the Iranian parliament Mohammad Baqer Qalibaf on a recent trip to Moscow passed a message to Russian President Vladimir Putin expressing interest in such membership.
Mir Hadi Seyedi at the TDO said trade with the EEU could vastly expand in line with further reductions in tariffs. Following Qalibaf’s visit to Russia, the two sides kicked off talks on possible free trade with zeroed tariffs, he was quoted as saying.
The EEU also has preferential trade agreements with Vietnam, Singapore and Serbia.
Iran expects to extend the Treaty on the Foundations of Relations and Principles of Cooperation with Russia or to sign a new similar agreement following negotiations with the Russian Federation, IRNA reported citing the spokesperson of the Iranian Foreign Ministry, Said Khatibzadeh, on March 1.
The “similar agreement” is potentially Iran’s full accession into the Eurasian Economic Union (EEU) communicated by Iranian Parliament Speaker Mohammad Baqer Ghalibaf earlier in February on his highly publicised meeting with the head of the state Duma. In a letter, Ayatollah Ali Khamenei, the head cleric of Iran, said Iran is now willing to move beyond the current temporary preferential trade agreement (PTA) with Russia into a full economic union with the former Soviet Union states.
The original treaty was signed in March 2001, and its validity period was automatically renewed every five years.
Visiting Moscow on September 24, Iranian Foreign Minister Mohammad Javad Zarif said that before the next extension, Tehran is going to consider the possibility of updating the document taking into account current realities.
23​ IRAN Country Report March 2021 www.intellinews.com