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Russia, Iran have huge potential of expanding cooperation in number of areas — Novak

The deputy prime minister noted that Moscow expects the agreement on the creation of a free trade zone between the EAEU and Iran to push the volume of trade turnover between the countries up substantially

MOSCOW, February 8. /TASS/. Russia and Iran, despite a strong growth of trade turnover in recent years, still have a huge potential of further expansion of cooperation and trade turnover in energy, transport, agriculture, construction and a number of other sectors, Russian Deputy Prime Minister Alexander Novak told reporters.

"I think that we have a huge potential. Even despite the fact that we substantially increase trade turnover, while joint investment projects are being implemented, this potential is not depleted in almost all areas: in energy, transport, joint trade, agriculture, geological exploration, construction and public utility. Moreover, our business communities, the Russian-Iranian business council actively work (on expansion of cooperation - TASS) today," he said at a reception on the occasion of the 45th anniversary of the Islamic Revolution in Iran.

Moscow expects the agreement on the creation of a free trade zone between the Eurasian Economic Union (EAEU) and Iran signed in December 2023 to push the volume of trade turnover between the countries up substantially, Novak added.

"Our absolute priority is further gradual increase in trade turnover volumes, which will be spurred by the free trade agreement between EAEU and Iran concluded last December on the sidelines of the meeting of the Supreme Eurasian Economic Commission in St. Petersburg," he noted.

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Foreign policy Iran Alexander Novak

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