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Trade turnover between Russia, Iran up 20% in 2022 to $4.9 bln, says Chamber of Commerce

It is noted that Russian business feels a high interest in the Iranian direction

MOSCOW, March 1. /TASS/. Trade turnover between Russia and Iran increased by 20% in 2022 to $4.9 bln, President of the Russian Chamber of Commerce and Industry Sergey Katyrin told TASS on Wednesday, noting the likelihood of further growth.

"In 2022, trade turnover between Russia and Iran rose by 20% to $4.9 bln. However, we expect it to rise to $40 bln in coming years. There are such prerequisites," he said.

Russian business feels a high interest in the Iranian direction, Katyrin added.

"First, it is a logistics bridge in trade with the Middle East, Southern and Southeastern Asia. Second, Iran has a unique experience of many years of working amid Western sanctions," he explained.

"Currently we see prerequisites for boosting cooperation in almost all areas, from agriculture to high technologies, from energy to engineering, textiles and tourism. Mutual investment, cooperation in special economic zones have high potential," President of the Chamber of Commerce and Industry noted.

Iran may become a member of several state-economic unions in foreseeable future, among them the SCO, BRICS and even the EAEU. A temporary free trade agreement between the EAEU and Iran, which contributes to growth of the volume of trade transactions, was enforced on October 27, 2019, whereas last year a protocol on its extension was inked, as well as the talks on a full-fledged agreement were launched, according to Katyrin.

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