Following last year’s currency crisis and depreciation of the rial against foreign currencies, Iranian exporters managed to gear up the export of steel, cement and reinforced concrete bars to Georgia.
As a result, the price of Iranian products in the Georgian market fell below the cost of raw materials in that country, drawing the ire of the neighboring country’s local producers.
The Georgian government is planning to ratify an anti-dumping bill in the near future, as Iran and Georgia do not have a free trade agreement, Financial Tribune reported.
The move is likely to create hurdles for Iranian exporters, particularly exporters of steel and rebar, Tccim.ir reported.
Iran traded 523,800 tons of non-oil commodities worth $230.42 million with Georgia during the last fiscal year (ended March 20, 2019), registering a 61.28% and 45.99% increase in tonnage and value respectively compared with the year before, latest data released by the Islamic Republic of Iran Customs Administration show.
Iran’s exports to Georgia stood at 493,740 tons worth $161.52, up 74.76% and 77.17% in tonnage and value respectively year-on-year. Georgia was Iran’s 125th export destination during the year.
Iran mainly exported bitumen, iron/steel bars and pistachios to Georgia during the period.
Georgia exported 30,060 tons of goods worth $68.9 million to Iran, down 28.84% in tonnage and up 3.36% in value YOY. It was the 40th exporter of goods to Iran over the year.
Imports included sheep carcasses, wood and yarn.