TEHRAN – The value of trade between Iran and the Republic of Tatarstan in Russia increased by 25 percent in 2023 compared to the previous year, Iran's Consul General to Kazan Davoud Mirzakhani said.

“The value of trade between Iran and the Russian Republic of Tatarstan increased by 25 percent to more than 200 million dollars in 2023,” Mirzakhani told Tatar-inform on Sunday.

According to the official, the trade exchanges between the two sides stood at $182 million in 2022.

Referring to the signing of the free trade agreement between the Islamic Republic of Iran and the member states of the Eurasian Economic Union (EAEU), of which Russia is also a member, Mirzakhani said: “With the implementation of this agreement after its approval in the parliaments and the removal of the customs tariffs on about 7,000 commodity items, it is expected that bilateral trade exchanges will increase significantly.”

EF/MA