Iranian President Ebrahim Raisi said on Friday that the Islamic Republic and Russia have reached an agreement to boost the trade between the two countries up to $10 billion, IRNA reported.
“We agreed to remove trade barriers and boost the economic exchanges between the two countries. Currently, the level of mutual trade is not acceptable, so the two countries agreed to increase trade to $10 billion a year,” Raisi said upon arrival to Tehran after a two-day visit to Moscow.
The president also noted that the two sides have also discussed monetary and banking issues during his talks with Russian officials.
“The two countries can take steps to break the dominance of the dollar over monetary and banking relations and trade with the national currency," Raisi stressed.
The two countries also agreed to identify mutual agricultural capacities as well as suitable areas for the exchange of agricultural products in order to increase the level of trade in the agricultural sector, according to the official.
He went on to say that the Islamic Republic of Iran has very good capacities in the field of transit and transportation, saying: “During this visit, it was agreed to activate the North-South Corridor. This transit route will make the time and distance of transiting goods from Russia and different northern countries to the southern regions much shorter.”
Spokesman of Iran Customs Administration Rouhollah Latifi has said that Iran’s trade with Russia stood at 3.5 million tons worth $1.66 billion in the current fiscal year’s first nine months (March 21 – Dec. 21), registering a 12% and 41% year-on-year growth in weight and value respectively.