Saturday, May 18, 2024

Russian official: Value of trade with Iran rose by 20% in 2022

A senior Russian economic official says the value of trade between his country and Iran increased by 20 percent in 2022 to reach $4.9 billion.

Sergey Katiryn, head of the Russian Chamber of Commerce and Industry, praised growing bilateral cooperation with Iran in an interview with Tass news agency, saying that two states expect the value of their trade to hit $40 billion in the years to come.

He said Russian companies are interested in entering the Iranian market, describing Iran as a bridge for trade with the Middle East, South and Southeast Asia.

The Russian official, whose country has been hit tough by Western sanctions over the past year due to the Ukraine war, said Iran has a unique experience in keeping up economic activities amid similar restrictions.

Katiryn stressed the need to bolster cooperation with Iran in all fields, from agriculture to advanced technologies, energy, engineering, textile and tourism.

The comments come as Iranian Foreign Minister Hossein Amirabdollahian is expected to visit Moscow later this month for talks on closer bilateral cooperation.

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