Feb 13, 2019, 5:22 PM
News Code: 83208383
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Eurasia members ready to expand cooperation with Iran

Moscow, Feb 13, IRNA - Russia's Minister of Commerce for the Eurasian Economic Union said that members of the union are ready to develop commercial and economic cooperation with Iran, and expressed the hope that the Eurasian membership with Iran would exponentially increase.

Referring to a memorandum of understanding on wheat trade between Iran, Russia and Kazakhstan, Veronika Nikishina went on to say, 'The agreement on signing this memorandum is one of the results of negotiations for signing an interim agreement establishing a free trade zone between Iran and the Eurasian Economic Union.'

The Russian official lauded signing of the Memorandum of Understanding (MoU) on wheat exports between Russia and Kazakhstan as key exporters of wheat to the world market and said that Iran is the first step towards restoring a complete chain of export of high-quality wheat from the Eurasian Economic Union to the entire region.

Nikishina said that this event should be considered in connection with the preparations for launching an agreement to establish a free trade zone between Iran and the Eurasian Economic Union, which was signed in May last year.

He added that Russia, Belarus and Kyrgyzstan signed the agreement, highlighting, 'We are confident in the prospect of working with our Iranian partners and are ready to negotiate in various fields of trade and economics with the country.'

Russia's Minister of Commerce for the Eurasian Economic Union declared, 'We hope that the stages of ratification of this agreement by the member-states of the Eurasian Economic Union and Iran will soon be completed.'

Iranian, Russian and Kazakh officials signed a memorandum of understanding on wheat trade at the Russian Ministry of Agriculture building on Tuesday.

This memorandum of understanding was signed between the deputies of the Ministry of Agriculture of Russia, Kazakhstan and the Ministry of Agricultural Jihad of Iran.

Ali Akbar Mehrfard, the Deputy Head of Merchandise Development and Agriculture Industries of the Ministry Agricultural Jihad participated in the signing ceremony on behalf of Iran.

In the framework of Iran-Russia Cooperation Commission, held last March in Moscow, the two sides agreed on support for the freedom of transit and wheat swap, as well as the allocation of a credit mechanism for buyers of this product in Iran.

Therefore, the Tripartite Memorandum of Understanding (MoU) between Iran, Russia and Kazakhstan on transit and exchange of wheat is another achievement of the 14th Joint Commission of Iran-Russia Cooperation.

It should be noted that although Iran does not need to import this product because of self-sufficiency in wheat production, it can be a bridge to export wheat from Russia and Kazakhstan to other countries.


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