Economy, Domestic Economy
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Iran-Russia “Green Corridor” Piloted

Iran-Russia “Green Corridor” PilotedIran-Russia “Green Corridor” Piloted

The Iran-Russia “Green Corridor” was piloted last week after the first shipment of Iranian agro products was exported to Russia from Abbasabad Export Terminal in western Mazandaran Province.

According to Iran-Russia Chamber of Commerce, the Green Corridor, which is aimed at streamlining customs procedures, will help lower the price of Iranian products in the Russian market by 14%, IRNA reported.

The idea of Green Corridor was first proposed by Russian Minister of Agriculture Alexander Nikolayevich Tkachyov during his visit to Iran last January. It involves cutting red tape in bilateral trade, for instance, by reducing physical inspection of cargos and offering customs duty discounts by the Russian side for Iranian products.

After the shortcomings of the protocol are rectified, the scheme will be carried out at full strength and more exporters can benefit from these customs facilities.    Russia’s trade turnover with Iran amounts to $700-800 million per annum.

 

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