Iran is the member of the Organization for Economic Cooperation (OEC) which includes nine other countries of Western and Central Asia (Turkey, Pakistan, Afghanistan, Azerbaijan, and five Republics of Central Asia) But the OEC has not succeeded in liberalizing exchanges between its members and continues to be passive in this regard.
Since 2005, Iran is an observer member of the Shanghai Co-operation Organization (OCS) which includes China, Kazakhstan, Russia, Kyrgyzstan, and Uzbekistan. The observer members include Mongolia, Iran, India and Pakistan. One of the goals of this organization is to facilitate co-operation between these States in the political, economic and commercial, scientific and technical, cultural and educational fields as well as in the fields of energy, transport, tourism and environment. The permanent members of the OCS account for 20% of the world oil reserves and 38 % of oil reserves.
Iran is in the process of negotiation to conclude a cooperation agreement with the European Union which has an economic dimension but for the moment these negotiations have stopped because of tensions related to the nuclear power file.
The country has signed a trade agreement with 21 other countries in the São Paulo Round of the Global System of Trade Preferences among Developing Countries (GSTP).
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Last Updates: October 2014