Iran, Belarus Enjoy High Potentials to Promote Bilateral Trade

Iran, Belarus Enjoy High Potentials to Promote Bilateral Trade

TEHRAN (Tasnim) – Suitable ways have been paved for the promotion of trade between Iran and Belarus, Iranian Minister of Industry, Mine and Trade Seyed Reza Fatemi Amin said.

Fatemi Amin on Monday held talks with the visiting Belarusian Minister of Industry Rogozhnik Alexander Nikolaevich and his accompanying delegation.

He expressed hope that the visit would pave the ground for the expansion of trade and economic relations between the two countries.

Turning to the cooperation of the Export Guarantee Fund of Iran (EGFI) with the Export Guarantee Fund of Belarus and the agreement of the Belarusian banks with an Iranian bank for money transfer and issuance of Letters of Credit (L/C), Fatemi Amin reemphasized that the required capacities have been brought about for the promotion of trade between the two countries.

It is expected that an agreement with the possibility of bartering would be inked between the two countries, he said, adding that 80 percent of tariffs would be minimized to zero level with Iran’s full accession to the Eurasian Economic Union (EAEU) in less than a year.

Necessary infrastructures have been established for the increase of trade and economic exchanges between the two countries, he continued.

Elsewhere in his remarks, Fatemi Amin called on his Belarusian counterpart to take part in the Exhibition of Iran Export Capabilities, which will be held at the Tehran Permanent International Fairgrounds on May 7-10, 2023. It was highly welcomed by the Belarusian officials.

The Belarusian minister of industry, for his turn, said that his country attaches great importance to the development of trade and economic ties with Iran and added, “As Iran and Belarus have been put under tough sanctions, double efforts are needed to resolve existing barriers in trade and economic fields."

With Iran’s accession to the EAEU, many problems facing the two countries in the transport field would be settled, Nikolaevich added.

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