Economy, Business And Markets

Monetary Confab With Russia

 Monetary Confab With Russia Monetary Confab With Russia

Iran and Russia plan to hold a monetary-banking conference in Tehran. The event will be jointly organized by Iran-Russia Chamber of Commerce and the Chamber of Commerce and Industry of the Russian Federation.

In a meeting with Russian officials, Vice-Chairman of Iran-Russia Chamber Ghadir Ghiafe stated that problems such as currency transfer have undermined trade relations between the two neighbor countries, IRNA reported.

The conference to be held in Tehran is aimed at discussing obstacles to credit lines between the two countries. Other issues such as visa, logistics, and storage of commodities will also be discussed, Ghiafe said.

The officials further urged both sides to hold trade exhibitions and dispatch business delegations to boost bilateral trade.

The Joint Iran-Russia Chamber of Commerce is due to dispatch six trade delegations to Russia by the end of 2015, according to the report.

Earlier this year in April, Russian energy minister had stressed that cooperation with Iran needs to be expanded and bilateral trade must increase to $10 billion from $1.05 billion last year. Agriculture and food products accounted for most of the trade.