Iran’s Non-Oil Exports to Russia Exceed $2 Billion in 2023: Envoy

 According to the latest statistics, Iran’s export of non-oil goods to the Russian Federation exceeded $2 billion in 2023, showing a considerable hike compared to the previous years, Kazem Jalali stated.

Russia’s export of non-oil products to Iran, meanwhile, decreased last year, the envoy added.

Turning to the banking and monetary exchanges between Tehran and Moscow, he noted that the banking transactions between the two countries will be carried out in a more facilitated way in the next Iranian calendar year (to start March 21, 2024).

The officials of the two countries are determined to boost cooperation in the monetary and banking fields, he noted.

Elsewhere in his remarks, Jalali pointed to the signing of the Free Trade Agreement (FTA) between Iran and five member states of the Eurasian Economic Union (EAEU) late in 2023 and termed it a great achievement for the two sides.

After signing this agreement, the governments of Iran and the five EAEU member states (Russia, Belarus, Armenia, Kazakhstan and Kyrgyzstan) will submit it to their respective parliaments for final approval.

Once the agreement is put into effect, the customs tariff of more than 90 percent of the goods will be minimized to zero level, he said, expressing hope that this agreement will be approved by the parliaments of the countries as soon as possible because launching the FTA would play a leading role in boosting bilateral trade.

Once the FTA is put into operation, Iran’s export of products to the member states of the union will significantly increase, he added. 

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