Iran’s Russia-bound export to see major rise in coming days

Business Materials 10 June 2016 16:47 (UTC +04:00)

Tehran, Iran, June 10

By Mehdi Sepahvand - Trend:

Iran's export to Russia will see a huge rise in 10 days as a result of new decisions made by the Iranian government, said Assadollah Asgaroladi, chairman of the Iran-Russia Joint Chamber of Commerce.

First Vice President of Iran Eshaq Jahangiri has been commissioned to improve Iran-Russia exports, following which important decisions have just been made to meet the desired outcome, Asgaroladi told Mehr news agency June 10.

Asgaroladi however didn't elaborate on what decisions were made or how Iran is going to make the increase in exports come true.

He noted that despite a political will in both countries to improve bilateral trade, only $50 million worth goods and services were exported to Russia in the past two months.

He also said that Russian President Vladimir Putin's latest visit to Iran had a good impact on trade, including the zeroing out of Russian tariffs on 10 Iranian goods.

However, Asgaroladi said the Iranian tradesmen have so far been unable to use this opportunity.

Iran exports $500 million worth of goods to Russia each year and Tehran is making efforts to increase the figure to $2 billion.

Russia used to import agricultural products worth $4 billion from Turkey before tensions arouse between the two countries. Agricultural products are what Iran hopes most to export to Russia in the wake of the developments.

Relations between Russia and Turkey deteriorated after the Su-24 bomber incident. After the incident Russian President Vladimir Putin signed a decree on measures to ensure national security and on special economic measures with regard to Turkey.