ICCIMA to Host Iran-Russia Business Forum

EghtesadOnline: Iran Chamber of Commerce, Industries, Mines and Agriculture is scheduled to host a joint forum between Iranian and Russian businesses on April 9.

News ID: ۷۸۲۲۵۴

10 April 2018

The event will be attended by President of Russian Federation’s Chamber of Commerce and Industry Sergey Katyrin and his accompanying delegation, ICCIMA’s news portal reported.

The Russian delegation will comprise economic players in the fields of agriculture, transportation, logistics, solar energy, oil and gas, imports and exports, information technology and mineral industries.

The forum is slated to open at 2 p.m. local time. Those interested in taking part can register at the Iranian chamber’s website at www.Otaghiranonline.ir or contact the phone number +982188848010 for more information, according to Financial Tribune.

The upcoming event comes after Iran’s Minister of Economic Affairs and Finance Masoud Karbasian’s visit to Moscow in early March to take part in the 14th session of Iran-Russia Economic Commission. Accompanying the official were a 75-member delegation comprising government officials as well as representatives from Iran’s private sector.

According to Iran’s Ambassador to Russia Mehdi Sanaei, the session focused on financing of major projects, development of transportation and electricity trade cooperation, as well as easier terms for bilateral trade.

Latest statistics show Iran’s export to Russia rose from $168 million in the first half of 2016 to $228 million in the same period of last year. Iran imported $509 million from Russia in H1 2017.

In 2015 and 2016, Iran exported between $400 million and $500 million worth of goods and imported $1.5-1.6 billion in return.

Iran’s main exported goods to Russia are agricultural products, including dairy, livestock and horticultural products, conserves, chocolates, biscuits, flowers, petrochemicals and some raw materials.

Imports include wood, machinery, agro machinery spare parts, paper (reexported from Finland and Sweden), iron and reinforcement bars (reexported from Belarus) and sugar (reexported from Cuba).

Iran is negotiating a wheat import deal with Russia, which would allow it to increase flour exports to neighboring Iraq, the secretary-general of Iran Federation of Food Industry Associations said.

The deal would involve importing around 100,000 tons of Russian wheat per month for private millers who would then produce flour for export.

Kaveh Zargaran added that talks were ongoing and he expected the deal to be finalized in a couple of months, Reuters reported in February.

Iranian private millers are not allowed to use domestic wheat for flour exports.

Russia, among the world’s largest wheat exporters, has ample supplies and is keen on signing the deal.

“They are negotiating with the Iranian private sector,” Zargaran said.