BAKU, Azerbaijan, August 8. The development of transit infrastructure could play a decisive role in increasing trade between Iran and Russia.
This was announced by the press service of Iran’s Ministry of Industry, Mining, and Trade, citing Deputy Minister Mohammad Sadegh Mofatteh's remarks at a meeting with Russia’s Deputy Minister of Economic Development in India.
“It is important to strengthen the two countries’ positions in regional corridors. Improving the Rasht–Astara railway project and accelerating its implementation are among the key priorities for transportation and freight cooperation between the two countries,” he said.
Mofatteh noted that Iran and Russia’s membership in BRICS, as well as the implementation of the free trade agreement between Iran and the Eurasian Economic Union, require a shift from traditional trade toward sustainable cooperation, joint investments, and the creation of industrial and commercial added value.
The deputy minister added that the two countries have significant potential in various economic sectors. He proposed developing a joint roadmap aimed at increasing exports of jointly produced goods to the markets of BRICS countries, member states of the Eurasian Economic Union, and other regional markets.
“The Comprehensive Strategic Partnership Agreement between Iran and Russia provides a suitable framework for developing economic cooperation between the two countries and can be used to strengthen trade and industrial ties,” he noted.
Furthermore, Mofatteh noted that leveraging Russia’s export capabilities to increase Iran’s share of the grain market is one of the key areas of economic cooperation between the two countries. According to him, it is important to establish effective mechanisms to ensure stable supplies of essential goods.
“It is important to streamline the delivery of essential goods to Iran via the Caspian Sea, remove existing barriers to maritime and land trade, and explore ways to reduce freight costs and expenses related to Iranian vessels,” he said.
The deputy minister added that it is important to simplify financial transactions between businesses in the two countries. “The full integration of the Shetab and Mir payment systems could be an important step toward reducing financial barriers to trade between Iran and Russia.”
Meanwhile, Iran’s Deputy Minister of Industry, Mining, and Trade is on a visit to India in connection with a meeting of representatives from the BRICS member countries.
