Iran’s annual exports to Russia rise 14%

April 25, 2022 - 12:24

TEHRAN - The value of Iran’s export to Russia rose 14 percent in the past Iranian calendar year (ended on March 20), the Iranian Trade Promotion Organization (TPO) data showed.

According to the mentioned data, Iran exported 1,139,992 tons of commodities worth over $579 million to Russia in the past year, IRIB reported

The Islamic Republic had exported 1,060,793 tons of commodities worth $509.917 million to Russia in the Iranian calendar year 1399 (ended on March 20, 2021).

The main Iranian products exported to Russia in the previous year were fresh or dried pistachios, ordinary non-expandable polystyrene, fresh kiwi and synthetic fibers, and other types of polyester.

Wheat, sunflower seed oil, safflower, and raw corn were also major products imported from Russia.

Iran and Russia have been taking serious steps for boosting their mutual trade over the past few years.

In late January, Iranian President Ebrahim Raisi said that the Islamic Republic and Russia have reached an agreement to boost the trade between the two countries up to $10 billion.

“We agreed to remove trade barriers and boost the economic exchanges between the two countries. Currently, the level of mutual trade is not acceptable, so the two countries agreed to increase trade to $10 billion a year,” Raisi said on January 21, upon arrival to Tehran after a two-day visit to Moscow.

The president also noted that the two sides had also discussed monetary and banking issues during his talks with Russian officials.

“The two countries can take steps to break the dominance of the dollar over monetary and banking relations and trade with the national currency," Raisi stressed.

The two countries also agreed to identify mutual agricultural capacities as well as suitable areas for the exchange of agricultural products in order to increase the level of trade in the agricultural sector, according to the official.

He went on to say that the Islamic Republic of Iran has very good capacities in the field of transit and transportation, saying: “During this visit, it was agreed to activate the north-south corridor. This transit route will make the time and distance of transiting goods from Russia and different northern countries to the southern regions much shorter.”

EF/MA

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