Iran, Afghanistan target $10bn in trade by 2029

Iran and Afghanistan are targeting $10 billion in annual bilateral trade within three years, an Iranian trade official said on Monday. Hossein Roustaei, Iran's commercial attaché in Kabul, stated that current bilateral trade stands at $2.7 billion, with Afghanistan now ranking as Iran's fifth-largest commercial partner. The announcement was made according to Iran's Trade Development Organisation.

Roustaei said the two neighbours expect to reach the $10 billion target by strengthening industrial and mining cooperation over the next three years. The goal signals deepening economic ties between Tehran and Kabul.

Iran exports fuel, construction materials, food products, and industrial goods to Afghanistan. Afghanistan serves as a key land route for Iranian goods into Central Asia, facilitating regional trade.

According to the report by Mehr News Agency, the $10 billion target reflects a significant increase from current levels, highlighting the potential for expanded economic collaboration between the two countries.