Russian-Iranian trade turnover up 15 this year

The trade turnover between Russia and Iran increased significantly in the first six months of 2021 compared to the same period last year, Russia’s trade representative in Iran said Tuesday.

“Russian-Iranian trade grew in 2020. It also demonstrates positive dynamics at the beginning of this year: in the first six months of 2021, trade grew by 15%. Exports increased by 16%, while imports from Iran â€" by 14%,” Rustam Zhiganshin said at an online economic cooperation meeting between the two states.

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According to data published earlier by the Eurasian Economic Commission (EEC), the volume of trade between Iran and Russia in 2020 amounted to some $2.22 billion, including $1.42 billion worth of goods exported from Russia to the Islamic Republic. Compared to 2019, the trade between the two countries grew by 39.8% last year.

The EEC earlier reported that Iran is soon to hold talks with the countries of the Eurasian Economic Union (EAEU), which includes Russia, regarding the creation of a permanent free trade zone. An interim agreement has been in place since 2019, but the countries believe a firm deal would allow them to increase mutual trade volumes.

The current trade turnover between the EAEU and Iran reached $2.9 billion last year, up by 18.5% compared to 2019, with Russia being Iran’s main trade partner (78.6%), while Kazakhstan (11.2%) and Armenia (8.9%) came in second and third, respectively.

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