Iran and Russia pursue US$10 billion trade target with focus on financial reform and regional connectivity

Tehran and Moscow are accelerating efforts to boost bilateral trade to US$10 billion. This is reported by Tehran Times, a partner of TV BRICS.

During a high-level visit to Moscow, Samad Hasanzadeh, President of the Iran Chamber of Commerce, Industries, Mines and Agriculture, met with Sergey Katyrin, President of the Chamber of Commerce and Industry of the Russian Federation. Their discussions centred on unlocking new trade potential by strengthening financial infrastructure, regulatory alignment, and transportation links.

Sergey Katyrin reported a 16 per cent increase in Iran-Russia trade over the past year, attributing the growth to intensified dialogue between entrepreneurs and enhanced provincial-level partnerships.

Hasanzadeh highlighted the strategic opportunity created by the 20-year cooperation agreement signed by both governments, stressing the importance of stable financial mechanisms.

He proposed expanding the use of national currencies in bilateral trade, harmonising customs procedures under the Eurasian Economic Union (EAEU), and enhancing cooperation through platforms such as BRICS and the Shanghai Cooperation Organisation (SCO).

Key priorities for achieving the US$10 billion target include streamlining currency exchange operations, strengthening maritime and rail connectivity, and easing visa procedures for business stakeholders.

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