Iranian-style KitKat may be headed for EEU as part of free trade deal

Iranian-style KitKat may be headed for EEU as part of free trade deal
Seem familiar?
By bne IntelliNews November 2, 2017

Iran is set to export biscuits and chocolate as part of a broader free trade deal with Eurasian Economic Union (EEU) states, Tehran’s Financial Tribune daily reported on November 1.

Iranian producers see the export markets to the north as ideal for expansion following a recent push to export products to Qatar. For instance, it now stocks Iran’s version of the KitKat, the Hiss.

According to a draft agreement between Iran and the EEU signed in July, Iran will be able to sell some 350 items to the trade bloc in exchange for another 180 flowing the other way.

The EEU groups Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan in an integrated single market of 183mn people, with a gross domestic product of over $4tn.

Trade breakthroughs in Qatar have resulted from Iran’s support for the tiny gas-rich peninsular nation since it was blockaded by a group of countries led by Saudi Arabia that are unhappy with its claimed support for certain militant and terrorist groups and closeness in areas of policymaking to Iran. Earlier this year, another Iranian-produced product, Mihan orange juice, was spotted by an Iranian on a flight to Doha, causing a stir among trade observers on social media. 

Related Articles

IMF revises expected 2017 Kyrgyz growth down to 3.2% citing Kyrgyz-Kazakh trade dispute

The International Monetary Fund (IMF) said on November 8 that it expects Kyrgyzstan's economy to grow less than previously anticipated in 2017 due to its diplomatic spat with ... more

Kyrgyz authorities crack down on election runner-up Babanov

The Kyrgyz Prosecutor-General's Office announced on November 4 that it has opened a criminal case against Omurbek Babanov, the runner-up in October’s presidential ... more

Kazakh central bank revokes licence of troubled lender Delta Bank

Kazakhstan’s central bank has decided to revoke the licence of troubled lender Delta Bank and initiate the bank’s liquidation, the regulator said on November 3. ... ... more

Dismiss