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Trade of Iran and Russia growing

Business Materials 1 November 2022 17:43 (UTC +04:00)
Trade of Iran and Russia growing

TEHRAN, Iran, November 1. The volume of Iran-Russia trade volume in the first half of the current Iranian year (started March21,2022) had a 40-percent growth compared to same period past year, member of Iran-Russia Joint Chamber of Commerce Jalal Jalalifar told Trend.

He stressed that Iran’s export to Russia has grown and become more diverse but Iran’s trade balance with Russia is negative that is mostly due to poor logistics.

"Iran needs ships and containers to develop trade with Russia," he added.

Jalalifar noted that agricultural products shared 80 percent of Iran’s export to Russia.

"Following western sanctions against Russia , Iran’s export items have become more diverse," he said, adding that Russia seeks basic materials from Iran but due to mismanagement, Turkiye has filled the of supplier for Russia.

According to Jalalifar, the government should support Iran’s private sector by establishing trade centers in Russian provinces.

He argued that the recent Eurasia Commerce and Industry Conference and Exhibition in Russia's Astarakhan, where over 20 Iranian companies showcased their products, did not yield desirable results, since the distribution network in Astarakhan runs by chain stores that do not deal with small exhibitions.

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