MOSCOW, April 25. /TASS/. Russia and Iran are set to eliminate trade barriers between them and enhance bilateral trade, Iranian Petroleum Minister Mohsen Paknejad said following a meeting of the Russian-Iranian Commission on Trade and Economic Cooperation in Moscow.
According to him, the agreement on strategic cooperation, signed between Iran and Russia in January, which will soon be ratified by Iran’s parliament, will contribute to this.
“This treaty will lay the groundwork for cooperation as it opens the door to interaction between our countries in all fields, including politics, tourism, science, security, and education. The process of adopting the treaty is underway at our parliament, and we will soon see it approved,” the Iranian minister said.
In 2024, trade between the two countries rose by 16.2% to $4.8 billion, and it could continue to grow, Russian Energy Minister Sergey Tsivilev said. His Iranian counterpart agreed, saying that bilateral trade could increase by another $4 billion to $6 billion, thanks to to a free trade agreement between Iran and the Eurasian Economic Union (EAEU) that will come into effect on May 15.
According to Tsivilev, there are 17 functioning working groups as part of the Russian-Iranian intergovernmental commission, and more than 30 intergovernmental and interdepartmental documents have already been signed between the two countries.
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