|  | 

Production

Iran, Russia can increase trade fivefold: Official

Tehran, Chairman of IranRussia joint chamber of commerce announced on Saturday that the two countries can experience fivefold increase in their trade exchange after due infrastructures provided for the goal.

Trade between Iran and Russia stood at two billion dollars per year that can be raised to dlrs 10 billion, Hadi Tizhoush Taban told IRNA.

Referring to unfair sanctions imposed by the Western states on Iran, Taban said Iran should adopt a new approach to develop export to Russia.

Touching upon the agreement reached by the member states of the Eurasian Economic Union (EAEU) on Iran's accession to the body, the official said the move can facilitate the presence of Iranian traders in the EAEU market.

The EAEU member countries include Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.

Iranian official went on to say that the rail link project, which became operational in the past months between Iran and the northern neighboring country of Azerbaijan has created a good opportunity for fostering trade exchange among Iran and the Union members.

Membership in EAEU is an ample opportunity for Iran that should be seized especially in the field of agriculture field and small industries, he added.

Despite the world criticism over Washington's antiIran measures, US President Donald Trump reinstated unilateral sanctions on November 5, 2018, and imposed as he claimed maximum pressure on the Islamic Republic of Iran.

Source: Islamic Republic News Agency IRNA


The iran News Gazette is mainly concerned with news and information about the Arab region and also covers international issues. Its main objective is to provide reliable and verified information on the Arab region for publishing on the digital landscape.