Iranian-Azerbaijani railway to facilitate trade turnover

Business Materials 13 April 2019 21:05 (UTC +04:00)

Baku, Azerbaijan, April 13

By Elnur Baghishov – Trend:

The connection of Iran's railway to Azerbaijan has created a great opportunity for trade between Iran and the CIS states.

Hadi Tizhush Taban, Iranian Co-Chair of Iran-Russia Joint Chamber of Commerce, told IRNA, Trend reports.

According to him, the Eurasian Economic Union is a profitable opportunity and Iran should utilize it effectively in the agriculture and light industry sectors.

"The current trade turnover of Iran and Russia is about $2 billion a year," he said.

Tizhush Taban added that it is possible to bring this figure to $10 billion by creating the necessary infrastructure.

Noting that the West has imposed sanctions on Russia, the Iranian official said that the key prerequisite for success in the Russian market is to be fully acquainted with the Russian market – one that imposes strict rules for imports.

As to Iran joining the Eurasian Economic Union, Tizhush Taban added that this issue has been raised on the agenda of the Iranian parliament.

"If this project is approved, the access of Iranian businessmen to the Eurasian market can be eased," he said.