A free trade agreement between Iran and the Eurasian Economic Union (EAEU) has been ratified by the Russian State Duma, according to a report by Iran’s Tasnim news agency.
Governor of Iran Central Bank (CBI) Mohammadreza Farzin has urged the need for prioritizing the use of offshore rial in trade exchanges with Russia as he said the operational measures have been finalized in this regard.
Iran and Russia held a joint business forum at the headquarters of Iran Chamber of Commerc as the Russian delegation visited Tehran to attend Iran Expo 2024.
Vice President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Qadir Qiafeh says the volume of trade between Iran and Russia is expected to reach $40 billion within 10 to 15 years.
An official at Iran’s Trade Promotion Organization (TPO) said the country’s export of products to Russia in the previous Iranian calendar year to late March registered a considerable growth both in volume and value.
Iran and Russia have signed a long-term agreement for supply of grains from Russia to Iran.
Exports of some Iranian agricultural items, including, oranges, lettuce and bell pepper, have registered a 500% annual growth in 2023, according to a Russian official.
Iran’s Deputy Foreign Minister for Economic Diplomacy Mehdi Safari and Russian officials conferred on ways to resolve the existing obstacles to the construction of the Rasht-Astara railway.
A consignment of Iranian exports, containing citrus fruit, was freighted by the Islamic Republic of Iran Shipping Lines (IRISL) to the Russian Federation via Solyanka Port corridor for the first time.
The deputy governor of the Central Bank of Iran (CBI) for international affairs said the ground has been paved for the exchange of goods using the Iranian rial with Afghanistan and Russia, which have signed bilateral monetary pacts with Iran.