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Economy
2022-July-2  14:31

Iran to Increase Exports to Russia

TEHRAN (FNA)- Iranian Deputy Foreign Minister Mehdi Safari announced on Saturday plans to boost the country's exports to Russia, specially construction materials.

Iran is planning to export three-billion-dollar construction materials to Russia.

Northeastern Iranian province of North Khorassan can make use of this opportunity for export, he stated in a meeting with the provincial governor-general.

There are good capacities in the province for making construction materials, like cement, which should be used for fostering exports, Safari said.

Elsewhere, the official highlighted good capacities for trade exchanges with Kazakhstan

North Khorassan in Northeastern Iran shares a border of 281km with Turkmenistan.

Iran and Russia had a trade of more than $2.5 billion in the past calendar year (ended March 20), according to the Head of Islamic Republic of Iran’s Customs Administration (IRICA) Mehdi Mir Ashrafi.

Mir Ashrafi said that Russia was responsible for a major part of trade between Iran and members of the Eurasian Economic Union (EAEU) in last year, with nearly $2.626 billion in value.

He added that imports from Russia reached over $2.116 billion over the period, an increase of 19% compared to the previous year.

“Iran’s exports to Russia also increased by 10% year on year in late March to nearly $510 million,” IRICA chief noted.

He said trade with Russia had accounted for 77% of Iran’s total trade with the EAEU.