Economy, Domestic Economy

Call for Expediting Trade With Russia

Call for Expediting Trade With RussiaCall for Expediting Trade With Russia

Iran should speed up trade expansion with Russia before it loses the tough competition to Egypt, Pakistan and India, says the head of Iran-Russia Chamber of Commerce, Asadollah Asgaroladi. “Iran can increase trade with Russia from the current $1.6 billion to $3 billion a year. We currently export $450 million worth of goods to Russia per year. This can increase by twofold once existing trade barriers are removed,” he said. Recently, Russia’s Economy Minister Alexei Ulyukayev said Moscow may cut or cancel import duties on agricultural produce, mainly vegetables and fruits, from Iran. On the one hand, a void has been created following the downing of a Russian warplane by Turkish air force late November, which has led to Moscow imposing restrictions on trade with Turkey. On the other hand, Russia has been involved in an unresolved tension with the West over Ukraine, which has also had economic implications for Moscow’s foreign trade.