TEHRAN - Private sector operators of Iran and Russia have discussed connection channels which have remained untapped.

A delegation of Russian business actors visited Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) headquarters in Tehran on Monday where they had B2B meetings with their Iranian counterpart.

Addressing the meeting, Niloufar Assadi, the director of ICCIMA Asia-Pacific Department, said that enhancing the Iran-Russia trade level requires accurate planning.

She referred to customs, transportation, and money transfer problems as the main obstacles hindering exchanges between Iran and Russia while noting that a target of $40 billion in bilateral trade is still possible.

Assadi hailed the finalization of a free trade agreement between Iran and the Eurasian Economic Union (EAEU) which she said would help Iran and Russia to continue with their connections more easily.

In the meantime, Maxim Petrochenkov, the head of the Russian delegation, said that relations between Iran and Russia have witnessed significant growth over the past few years.

Noting that Iran-Russia trade volume has surpassed $4 billion, he said that the figure is not satisfactory but is promising.

Petrochenkov believed that there are many technical obstacles in the way of bilateral trade and making joint investments. He however noted that there are solutions to these problems.

Earlier in April, ICCIMA hosted another Iran-Russia business forum which was attended by officials and businesspersons from both sides.

Speaking in this gathering, ICCIMA Deputy Head Ghadir Qiafeh said the volume of trade between Iran and Russia is expected to reach $40 billion within 10 to 15 years.

The forum took place as a Russian trade delegation was in the Iranian capital to attend the Iran Expo 2024.

The official said that, Iran and Russia together can gain access to a 2,000-billion-dollar market.

He however regretted that the two neighboring countries have not been able to make use of their potential in bilateral exchanges.

Underlining the role of the customs administrations of both Iran and Russia in enhancement of bilateral trade, he said that customs agreements called “green corridor” were signed by the two countries seven years ago.

Qiafeh also hailed Iran’s preferential trade agreement with the Eurasian Economic Union (EAEU) which he said can give a further boost to trade between Tehran and Moscow.

In the meantime, Leonid Lozhechko, Chairman of the Russian-Iranian Business Council, said that measures are underway for facilitating trade between Iran and Russia, adding that Russian SMEs have very good relations with Iran.

Referring to preferential agreement recently signed between Iran and the EAEU bloc, he said that once the agreement is put into practice, trade with Iran will be much easier.

EF/