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Iran-Austria Trade Declines Amid Sanctions
Mr. Ali Ayanbod, Secretary General of the Iran-Austria Joint Chamber of Commerce
According to reports, the volume of bilateral trade between Iran and Austria reached $220 million in 2024, a significant decrease compared to previous years. This decrease is mainly due to sanctions, financial restrictions, and reduced demand in target markets.
On the other hand, under sanctions, Iran is looking for new trade partners. In this regard, the member states of the Eurasian Economic Union (EAEU) have been proposed as alternatives.
The free trade zone agreement between Iran and the EAEU, which officially entered into force on May 15, 2025, could lead to an increase in Iran’s trade volume with the member states of the union. This may increase competition for Austrian companies in the Iranian market and limit business opportunities.
