Iran-Russia Trade Turnover on Rise: Official

Iran-Russia Trade Turnover on Rise: Official

TEHRAN (Tasnim) – Trade turnover between Tehran and Moscow is rising despite "external challenges", Russian Deputy Foreign Minister Igor Morgulov said.

"Despite the challenging external conditions, the Russian-Iranian trade turnover is rising. It increased to $2 bln last year," Morgulov said on Tuesday, TASS reported.

"We hope that the temporary agreement, which is aimed at creation of a free trade zone between Iran and the Eurasian Economic Union, will give an extra impetus to the ties' expansion," Morgulov said, adding that the agreement "was enforced last October."

Trade turnover between Iran and Russia amounted to $1.74 bln in 2018 and $1.589 bln in the period between January-September 2019. Agriculture products are the backbone of trade turnover between the countries. Trade turnover in the agriculture sector amounted to 1.283 bln in January-September 2019, an increase of 41.6% year-on-year.

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