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Iran looks to increase trade with Russia

Business Materials 16 January 2020 17:39 (UTC +04:00)
Iran looks to increase trade with Russia

TEHRAN,Iran, Jan.16

Trend:

Iran's strategy is to interact with neighboring countries, and Russia is the priority direction, said the deputy of Iran's Chamber of Commerce Mohammad Reza Karbasi said, Trend reports via ILNA.

The private sectors of Iran and Russia should resolve obstacles and develop bilateral ties. Russia's interest to cooperate with Iranian provinces is very important, he said.

The official indicated Iran and Russia's trade volume in 2018 was $1.7 billion, therefore Iran should move towards a positive balance in the long term.

"Russia imported $540 million worth of goods from Iran, and this figure has the potential to increase," he said.

Karbasi also noted that a special work group is to be established between private sector and the Central Bank of Iran to boost banking cooperation with regional countries specially Eurasia.

Meanwhile, the head of the Iran and Russia joint Chamber of Commerce Hadi Tizhoush Taban said that private sectors of the two countries will consider cooperation regarding joint ports, tourism and shipping.

Taban has indicated that two countries have held banking negotiations to implement a direct banking system for transaction between Russia and Iran that is expected to be launched soon.

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