Iran Runs Positive Trade Balance with Russia

A remarkable increase in Iran’s trade exchanges with Eurasian states and the exports of agricultural products and high-tech services to Russia have yielded a positive trade balance with the Russian Federation, the Trade Promotion Organization of Iran said.
In a Sunday meeting of the Iranian Administration’s Economic Coordination Headquarters, chaired by President Ebrahim Raisi, the Trade Promotion Organization gave a report on Iran’s trade interaction with Russia and other Eurasian countries.
According to the report, the value of Iran’s trade exchanges with Russia and other Eurasian states has risen remarkably.
Tehran’s trade balance with Moscow has turned positive with the great success that Iran has achieved in the export of agricultural products and the items relating to the advanced, complicated, and high-tech industries to Russia, it added.
Elsewhere in the meeting, the participants agreed on plans to improve the infrastructures for trade, including the operation of proper ships in the Caspian Sea, and to provide the Iranian exporters with more services.
After a meeting with his Iranian counterpart in Moscow in August, the foreign minister of Russia outlined plans to create a joint free trade zone between Iran and the Eurasian Economic Union (EAEU) member states.
Sergei Lavrov also noted that Russia was weighing plans for a long-term economic cooperation document with Iran, saying the two states may develop a road map to economic interaction considering that Moscow’s relations with Tehran are moving towards strategic levels.
The push for closer economic and trade ties between Iran and Russia intensified in February when Moscow came under a raft of Western sanctions because of its military involvement in Ukraine.

Tasnim News Aagency