Russia, Iran have potential to increase bilateral trade

6/16/2019 4:14:00 PM

Tehran (KNA) - Russian-Iranian trade exceeded $1.7 billion in 2018, but the two countries have the potential to increase this indicator, Russian Minister for North Caucasus Affairs Sergei Chebotarev said on Sunday.

In 2018, bilateral trade exceeded $1.7 billion, and it grew compared to 2017", Chebotarev said at a joint Iran-Russia economic forum in the Iranian capital of Tehran.

The minister noted that this volume was very modest adding that Russia and Iran had a "much higher potential" in this field. According to him, the two sides must do everything possible to achieve a new level in bilateral trade, Sputnik reported.

The two countries maintain close ties in hydrocarbons trade and work jointly on peaceful nuclear power projects in Iran. Earlier this week, Iran moved to create a free trade zone with the Eurasian Economic Union, which Russia is part of.

Chebotarev also said that Russia is interested in establishing an energy corridor with Iran besides developing north-south, as well as east-west transportation corridors.

He went on to say that the Caucasus region is eager to expand ties with Iran in many areas, especially in tourism cooperation.

Source: Mehr

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