Prospect of $10 billion Iran-Russia trade till 2029

Pars Today- A senior analyst of Iran-Russia economic relations, pointing to the notable increase of Russian tradesmen in the Iranian market, informed of a possible leap in mutual trade up to $10 billion within 4 years.

Alexander Sharov, entrepreneur and expert of Iran-Russia economic cooperation, announced in an interview that the number of Russian entrepreneurs, who cooperate with Iran, has grown threefold for the recent years.

According to Pars Today, quoting from TV BRICS, referring to the signing of the "Iranian-Russian Treaty on Comprehensive Strategic Partnership" by both countries, Sharov considered it as an important factor for deepening of economic ties, increase of bilateral trade and prosperity of commercial activities.

This Russian economic expert anticipated that the volume of Iran-Russia trade will grow from the current $4 billion to $10 billion within 3-4 years.

According to him, this growth will occur mainly in the exports of gas, petrochemicals, foodstuff and development of transportation routes in the Caspian Sea Basin.

Sharov considered Tehran-Moscow cooperation developing within the framework of Eurasian Economic Union (EAEU) and added, "Iran is taking into account the scenario of having closer link with the EAEU; first as a supervisor, and maybe as an official member later on."

According to this report, the Iran-Eurasian Free Trade Agreement will be put into effect from May 15. Based on the content of this document, the customs tariffs of more than %80 of the commodities exchanged between Iran and the EAEU member states- including Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan, will be annulled.

RM/ME