Iran, Russia private sector operators discuss potential trade expansion

(MENAFN) Private sector representatives from Iran and Russia engaged in discussions aimed at uncovering unexplored avenues for enhancing bilateral connections. A delegation of Russian business actors visited the headquarters of the Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) in Tehran on Monday, where they participated in business-to-business (B2B) meetings with their Iranian counterparts.

Niloufar Assadi, Director of the ICCIMA Asia-Pacific Department, emphasized the importance of precise planning in elevating the Iran-Russia trade relationship. She identified customs, transportation, and money transfer issues as primary challenges impeding exchanges between the two countries. Despite these hurdles, Assadi expressed optimism, highlighting the possibility of achieving a target of USD40 billion in bilateral trade.

Assadi also lauded the finalization of a free trade agreement between Iran and the Eurasian Economic Union (EAEU), emphasizing its potential to streamline connections between Iran and Russia.

Maxim Petrochenkov, Head of the Russian delegation, acknowledged the significant growth in relations between Iran and Russia in recent years. Although the current Iran-Russia trade volume has surpassed USD4 billion, Petrochenkov deemed this figure promising yet insufficient. He identified technical obstacles and joint investment challenges as areas needing attention but expressed confidence in finding solutions.

This meeting follows a previous Iran-Russia business forum hosted by ICCIMA in April, which drew participation from officials and businesspersons from both nations. These ongoing dialogues underscore the commitment of private sector stakeholders from Iran and Russia to explore opportunities for collaboration and further strengthen economic ties between the two countries.



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