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Trade turnover between Russia, Iran up 20% in 2022 to $5 bln — ministry

Russia is forming an independent financial system, expanding the geography of free trade agreements, entering additional agreements on services and investment, developing industrial cooperation on territories of industrial zones and technological clusters in a move to continue boosting trade turnover and investments

KAZAN, May 19. /TASS/. Trade turnover between Russia and Iran increased by 20% in 2022 compared with the previous year to $5 bln, Russia’s Deputy Minister of Economic Development Dmitry Volvach said on Friday.

"We plan the signing of the permanent agreement on free trade between the EAEU and Iran by the end of this year. Bilateral trade between Iran and Russia is stably on the rise. Last year mutual trade totaled around $5 bln, up by 20% compared with 2021. In 2022, trade turnover between the EAEU and Iran rose by 23% to $6 bln," he said at the 14th International Economic Forum ‘Russia - Islamic World: KazanForum’.

Russia is forming an independent financial system, expanding the geography of free trade agreements, entering additional agreements on services and investment, developing industrial cooperation on territories of industrial zones and technological clusters in a move to continue boosting trade turnover and investments, deputy minister added.