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Iran, Tatarstan Trade Up 25% in 2023: Consul General

Feb 19, 2024, 11:27 AM
News ID: 826061
Iran, Tatarstan Trade Up 25% in 2023: Consul General

The volume of trade exchanges between Iran and Russia’s Republic of Tatarstan exceeded $200 million in 2023, registering a 25-percent hike compared to a year earlier, the consul general of Iran in Kazan announced.

EghtesadOnline: Davood Mirzakhani put the total value of the trade exchanges between Iran and the Republic of Tatarstan in 2022 at about $182 million.

Referring to the signing of a Free Trade Agreement (FTA) between Iran and member states of the Eurasian Economic Union (EAEU), he said the bilateral trade exchanges between Iran and Tatarstan are expected to significantly increase upon the implementation of the FTA.

He further said the activation of the International North-South Transport Corridor (INSTC), the operation of the infrastructural transport projects of Iran and Russia and the construction of the Rasht-Astara Railway can help facilitate the trade exchanges between the two countries to a great extent.

The free trade agreement between the EAEU and Iran was signed during the EAEU summit in St. Petersburg on December 25.

In 2018, Iran and the EAEU inked a Preferential Trade Agreement (PTA), which came into effect on October 27, 2019. The two sides later began negotiations to upgrade the PTA to an FTA after the success of the former. / Tasnim

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