Iran Russia

Tehran, Moscow need to support private sector in sanctions era

IRNA – Chiefs of Iranian and Russian chambers of commerce stressed that the governments should extend backing to the private sectors under conditions of sanctions.

Head of Iran Chamber of Commerce Gholamhossein Shafei held talks with his Russian counterpart Sergey Katyrin late on Saturday.

Mutual coordination for holding annual Iran-Russia Trade Conference was the most significant topic discussed during the meeting, he said.

Noting that holding the event plays a crucial role in strengthening economic cooperation between the two countries, Katyrin said that holding last year’s conference hosted by Iran brought suitable feedbacks from the participants.

He further maintained that oil and gas, agriculture, foodstuff, transportation and logistics are among the topics which can be discussed during the upcoming Iran-Russia Trade Conference.

Shafei, for his part, said that US sanctions have created new conditions for the two countries’ economic activists which should be used.

During the meeting, it was also agreed Iran-Russian Trade Conference be held in Saratov, Russia in July 2019.

Iran’s exports to Russia reached $392 million last year while imports from the country hit $1.03 billion in the same period.

Foodstuff and agricultural products are major Iranian exports to Russia.