2393
Commodity Exchange Through Regional Treaties
Economy, Domestic Economy

Commodity Exchange Through Regional Treaties

Western sanctions against Iran and Russia over money transfers have made it necessary for the two countries to formulate strategies to exchange commodities through regional treaties such as those sponsored by Shanghai Cooperation Treaty Organization, Association of Southeast Asian Nations (ASEAN), and Economic Cooperation Organization (ECO), deputy minister for industry, mines, and trade told ILNA.
Mojtaba Khosrotaj said such strategies are necessary to enhance international relations, promote exports and attract foreign investors.
Russia banned imports of a wide range of US and European foods in response to Western sanctions on Moscow over the crisis in Ukraine. Now Russia says it will count on Iran as a major supplier of vegetables, foods, and fruit. Since a crisis in Ukraine plunged Russia-West relations to their lowest level since the Cold War era, Russian trade delegations have been visiting Iran to explore the avenues for the import of foodstuff, oil as well as petrochemical products. Besides Iran, North and South American countries like Mexico, Argentina and Brazil are also hoping to fill the gap in Russia’s food imports.
The deputy further said a lot is needed to be done in order to attract foreign investors especially from member countries of the aforementioned regional organizations.
Iran has been actively marketing its products during this year’s AgroTech Exhibition for Agricultural Machinery in Moscow. During the four-day exhibition—which runs until October 12—Mahmoud Hojati, minister of agriculture stated that Iran was surveying the possibility of increasing export of fruit and other agricultural products to Russia.

 

Short URL : http://goo.gl/h79zLD

You can also read ...

German firms, especially those without business links to the US, want to continue their Iran business.
While Germany’s big banks are studiously avoiding Iran-related...
New Rules Allow  Direct Forex Sale
Businesspeople that have validated their purchase orders are...
Iran is the world’s biggest saffron producer and accounts for more than 90% of the global production.
Iran Mercantile Exchange launched saffron futures trading for...
Iran Khodro Expanding Presence in Iraqi Market
Iran’s largest carmaker, Iran Khodro, is set to export 6,000...
Banking Amendments Approved
The Money and Credit Council approved the Central Bank of Iran...
Tesla Admits Model 3 Braking Issue, Promises Fix
Tesla Inc’s Chief Executive Officer Elon Musk admitted on...
Uber Plans Taxi-Hailing  in Japan
Uber Technologies plans to launch its first taxi-hailing pilot...
Prices have been jacked up by car dealers and some makers by 6-22% only in the past few weeks.
Authorities are set to ratify new car prices for models...

Trending

Googleplus