Tehran, Tatarstan chambers of commerce sign cooperation MoU at KazanForum 2024

(MENAFN) The Tehran Chamber of Commerce, Industry, Mines, and Agriculture (TCCIA) and the Union Chamber of Commerce and Industry of the Republic of Tatarstan recently solidified their partnership by signing a Memorandum of Understanding (MOU) during the 15th edition of the "Russia-Islamic World: KazanForum 2024" in Kazan. Mehdi Sadeghi Niaraki, Vice-President of the Tehran Chamber of Commerce, and Shamil Ageev, President of the Chamber of Commerce and Industry of the Republic of Tatarstan, were the signatories of the agreement.

Detailing the objectives outlined in the MOU, Sadeghi Niaraki highlighted its focus on fostering cooperation through information exchange, facilitating delegation visits, showcasing capacities, and promoting bilateral trade. He underscored Tehran province's significant contribution to the Gross Domestic Product (GDP) and its ample potential for expanding exports, while also recognizing the special capabilities of the Republic of Tatarstan, particularly in industries and the heavy vehicles sector.

Iran's Consul General to Kazan, Davoud Mirzakhani, provided insights into the growing trade relations between Iran and the Republic of Tatarstan, citing a notable 25 percent increase in trade value in 2023 compared to the previous year. Mirzakhani emphasized that trade exchanges between the two sides surpassed USD200 million in 2023, up from USD182 million in 2022.

Mirzakhani further highlighted the significant potential for further growth in bilateral trade, especially with the implementation of the free trade agreement between Iran and the member states of the Eurasian Economic Union (EAEU), of which Russia is a key member. With the removal of customs tariffs on approximately 7,000 commodity items, it is anticipated that bilateral trade exchanges will witness a substantial boost, fostering deeper economic ties between Iran and the Republic of Tatarstan.

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