Iran to improve economic ties with neighboring countries - official

Business 19 January 2022 12:33 (UTC +04:00)
Iran to improve economic ties with neighboring countries - official

BAKU, Azerbaijan, Jan. 19

By Elnur Baghishov – Trend:

The new Iranian government is developing economic ties with neighboring countries, including Russia, a member of the Iran-Russia Joint Chamber of Commerce Jalil Jalalifar told Trend.

One of the priorities of the new administration in Iran is developing economic ties with neighboring countries, including Russia.

According to Jalalifar, Iran is trying to make the most of the position, given that it is surrounded by 15 countries.

“Among these countries, Russia is of greater importance for Iran both in terms of population and size. The value of Russia's imports amounts to more than $240 billion a year. Iran can supply most of the goods Russia imports,” he said.

The official added that Russia has a special geostrategic position neighboring 14 countries. Iranian companies can export various goods to Russia's neighbors by participating in the Russian market.

Jalalifar also pointed out that along with China and India, Russia wants to export its goods to countries around the Persian Gulf, East Africa, and Southeast Asia.

“Russia intends to increase the value of its annual foreign trade to over $540 billion. The optimal route for this is the North-South Transport Corridor,” he said.

Reportedly, on January 19, 2022, Iranian President Ebrahim Raisi paid a visit to Russia at the invitation of Russian President Vladimir Putin. A delegation of Iranian ministers is accompanying the Iranian president during the visit.

Within the visit, discussions will be conducted on the development of relations between the two countries in many areas, including Iran's nuclear program, economy, and energy.

Also, the two countries are expected to sign a 20-year cooperation document on a roadmap for relations.

The foundation of the ‘North-South Transport Corridor’ was laid on the basis of an intergovernmental agreement signed between Russia, Iran, and India on September 12, 2000.

In total, 13 countries have ratified the agreement, including Azerbaijan, India, Iran, Russia, Turkey, etc.

The purpose of creating a corridor is to reduce the delivery time of cargo from India to Russia, as well as to North and West Europe. Delivery time on the current route is more than 6 weeks, it is expected to be reduced to 3 weeks via North-South Transport Corridor.


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