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Food industry accounts for 2.9% of Iran’s GDP

Business Materials 15 October 2014 18:28 (UTC +04:00)

Tehran, Iran, Oct. 15
By Milad Fashtami - Trend:

Deputy Director of Iran's Chamber of Commerce, Industries, Mines and Agriculture Mohsen Jalalpour said that food industry accounts for 2.9 percent of the country's GDP.

Mohsen Jalalpour said that food industry's share in the country's total investments is around 16 percent, IRIB News Agency reported on October 15.

"Food industry also accounts for 16 percent of Iran's total job creation," he noted.

Jalalpour went on to note that entering the Russian market is a great opportunity for Iranian food stuff producers.

Tehran is currently examining the possibility of exporting fruits and agricultural products to Moscow.

During a high-ranking Russian delegation's official visit to Tehran, the country officially requested Iran to increase its agricultural products and food stuff exports to Moscow to meet the country's domestic demands.

The head of the Iran-Russia Joint Chamber of Commerce Assadollah Asgaroladi said on September 30 that the chamber is examining a plan to replace the two countries' national currencies - rial and ruble - for their bilateral trade.

"A Russian bank is supposed to establish a branch in Tehran, transferring the money to businessmen at the exchange rate of the free market," he explained, Iran's Mehr News Agency reported.

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