Iranian minister says Tehran mulls agricultural products exports to Russia

Business Materials 10 October 2014 19:02 (UTC +04:00)

Tehran, Iran, Oct. 10

By Milad Fashtami - Trend:

Iranian Agricultural Jihad Minister Mahmoud Hojjati said that Tehran is currently studying the possibility of exporting fruits and agricultural products to Moscow.

"Increasing agricultural products' exports to Russia can largely boost Iran's non-oil exports," Iran's Mehr News Agency reported on October 10.

The Iranian minister is currently in Moscow to attend a meeting of Shanghai Cooperation Organization.

Hojjati is heading a delegation consisted of high-ranking officials and private sector representatives. He is expected to hold a meeting with his Russian counterpart in the next few days.

Russian Ambassador to Tehran Levan Jagarian said on October 6 that Russia needs lots of fruits and meat, and Iran can enter the Russian market to supply it.

During an official visit to Tehran by a high-ranking Russian delegation, the country officially requested Iran to increase its agricultural exports to Moscow in order to meet the country's domestic demands.

Head of Iran-Russia Joint Chamber of Commerce Assadollah Asgaroladi said on September 30 that the chamber is studying a plan to replace the two country's national currencies - rial and ruble - for their bilateral trades.

"A Russian bank is supposed to establish a branch in Tehran, transferring the money to businesspersons at the exchange rate of free market," he explained.

Asgaroladi went on to note that the Central Bank of Iran will announce its stance on the plan in two months.

Tehran and Moscow also plan to launch a joint bank in near future.

Head of Tehran Chamber of Commerce Yahya Al-e Es'haq said on September 22 that western sanctions imposed on Russia have created a great opportunity for Iranian goods to enter Russian market.

Iran and Russia signed a memorandum of understanding for cooperation on September 9.

Iranian Oil Minister Bijan Namdar Zanganeh and Russian Energy Minister Alexander Novak signed the document at the end of the 11th meeting of Iran-Russia Joint Cooperation Commission.

The documents include bilateral cooperation in different fields such as industrial, mineral, trade, agricultural, tourism, technology, border issues, and energy. The two sides also agreed to do their bank transactions by national currencies.