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Russia expects increase in trade with Iran on signing free trade zone agreement with EAEU

Deputy Prime Minister Alexander Novak noted that the next 17th meeting of the permanent Russian-Iranian commission on trade and economic cooperation will give an additional impetus to cooperation

Russian Deputy Prime Minister Alexander Novak Mikhail Sinitsyn/TASS

Russian Deputy Prime Minister Alexander Novak

© Mikhail Sinitsyn/TASS

MOSCOW, February 8. /TASS/. Russia expects that the agreement on a free trade zone between the Eurasian Economic union (EAEU) and Iran, which was signed last December, will significantly increase the volume of trade between the countries, Deputy Prime Minister Alexander Novak said.

"Our absolute priority is a further consistent increase in trade volumes. This will be facilitated by the free trade agreement between the EAEU and Iran, which was concluded last December on the sidelines of the meeting of the Higher Eurasian Economic Commission in St. Petersburg," he said at a gala reception on the occasion of the 45th anniversary of the Islamic Revolution in Iran.

Novak noted that the next 17th meeting of the permanent Russian-Iranian commission on trade and economic cooperation, which will soon be held in Tehran, will give an additional impetus to cooperation.

"As part of the commission’s work, the co-chairman of the commission from the Iranian side, the Minister of Oil of Iran, my friend, Mr. Javad Owji, and I pay special attention to the implementation of large projects that allow us to build up trade and economic partnership between our countries," he added.

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Foreign policy Iran Trade & Cooperation

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