BAKU, Azerbaijan, May 26. Iran Tractor Manufacturing Company (ITM Co.) has reported a substantial increase in tractor exports in the past Iranian year (from March 20, 2024, through March 20, 2025), with both value and weight rising by 40 percent compared to the previous year (from March 21, 2023, through March 19, 2024), said Amir Ahmad Andabili, CEO of ITM Co., Trend reports.
Speaking during a visit by Bangladesh’s ambassador to Iran, Manjurul Karim Khan Chowdhury, to the company’s production facilities in Tabriz, Andalibi noted that the company exported tractors worth $55 million last year, totaling 4,600 units.
The company’s overall revenue reached $70 million, with its tractors shipped to 25 countries worldwide.
“This year (from March 21, 2025, through March 20, 2026), the goal is to export 8,000 tractors, which would mark a significant growth in the development of our international markets," he said.
The company hasn’t dipped its toes in the waters of Bangladesh
just yet, but it’s got its sights set on this market, considering
the country’s bountiful agricultural potential.
Ambassador Chowdhury remarked that Bangladesh is currently casting
its net wide for tractors, pulling from China, India, Indonesia,
and local assembly operations. However, he believes that ITM Co. is
well-positioned to lend a helping hand in nurturing bilateral
relations and fulfilling Bangladesh’s agricultural machinery
requirements.
He mentioned that the trade turnover between Iran and Bangladesh is
in the ballpark of $1 billion each year, with a lion's share coming
from Iran’s exports. Even with sanctions hanging over Iran like a
dark cloud, the private sectors in both countries are rolling up
their sleeves and looking to bolster their economic
connections.
