Iran-Russia trade rose 20% to $4.9bn in 2022: TPPRF chief
President of Russia’s Chamber of Commerce and Industry (TPPRF) says bilateral trade with Iran rose by a fifth last year.
Sergey Katyrin said that Iran-Russia trade reached some $4.9 billion last year, up 20% from 2021, according to remarks covered in a Monday report by Iran’s IRIB News.
Katyrin said, however, that Russia expects its annual trade with Iran to increase by more than 10 times within few years to hit a target of $40 billion.
He was quoted as saying that Russian companies are very interested to enter the Iranian market as it can link them to trade markets in the Middle East and South and Southeast Asia.
The businessman said there are great potentials for cooperation between Iranian and Russian businesses in areas like agriculture, technology, energy, engineering, textile and tourism.
He also emphasized the need to introduce joint investment projects in special economic zones of the Iran and Russia where strict mainland laws and regulations are eased to help boost trade and manufacturing activities.
The comments came hours after Russian Deputy Prime Minister Alexey Overchuk said a key agreement between the Russia-led Eurasian Economic Union (EAEU) and Iran to establish a free trade zone could be finalized before year’s end.
The agreement can lead to a major increase in trade between Iran and Russia as well as between Iran and four other EAEU members, namely Armenia, Belarus, Kazakhstan, and Kyrgyzstan.
Iran and Russia have significantly expanded their economic and energy ties since February 2022 when Russia came under Western sanctions because of the war in Ukraine.
Iran’s need for change of guard in COP29
EU sanctions directly impact Iran’s medicine imports: Official
Iran's CBI to launch new currency exchange market
VIDEO | Iraqi fighters strike Israeli military target, vow ‘increasing intensity’
VIDEO | Iran confirms successful signals from Kowsar, Hodhod satellites
VIDEO | What will keep Gaza on top of the new US presidential agenda?
188 Palestinian journalists killed since start of Israeli war: Gaza media office
Enemy fears us, our weapons, fighters tell Hezbollah’s leader
VIDEO | Silencing anti-Israeli voices
Trump prepares to pull US out of Paris Agreement: Report
VIDEO | Protesters in Sydney demand end to military support for Israel
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
