Jalil Jalalifar, a member of Iran-Russia Joint Chamber of Commerce, says Iranian goods need to be exported to Russia in a network of wholesale market to cut down on their prices and increase their competitiveness.
Zanjan Chamber of Commerce signed a Memorandum of Understanding (MoU) with Erbil Chamber of Commerce and Industry that allows setting up a branch of the Iranian local chamber in the Iraqi Kurdistan Region.
The new line will bring to five the number of direct shipping lines between the two countries on either side of the strategic Strait of Hormuz.
Iran is also trying to be the main partner in Syria’s reconstruction era. The two countries are planning to set up three joint factories on baby formula, anti-cancer pharmaceuticals and car production.
For the first time in the history of Iran’s oil industry since 1901, 3,000 tons of Euro-5 gasoline was sold via the international ring of Iran Energy Exchange, also known as IRENEX.
Iran and Azerbaijan have been seeking to further expand their commercial, economic and trade ties against all odds. The two neighbours are getting closer each day and want to cement their relations.
Tehran has been planning since 2008 to redenominate the national currency as it continued devaluation. Now, the government is pushing the plan forward following the drastic loss of the currency value last year after the restoration of economic sanctions on Tehran in 2018.
Iran and Syria are set to establish three joint factories that will supply the country with vital staples such as anti-cancer medicine, baby formula and cars.
Many countries are considering joining the European payment mechanism. Sweden, after Finland, is the second Scandinavian country to express readiness to be part of the trade channel.
Iran private sector says it has all the capacity to fully enter the Iraqi reconstruction market as the neighbouring country eyes foreign investment to rebuild itself.