Nov 10, 2019, 6:34 PM
Journalist ID: 2382
News Code: 83549337
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Iran signs MoU with Russia, Kazakhstan for temporary import of wheat

Under the Interim Trade Agreement between Iran and the Eurasian Union countries, a Memorandum of Understanding (MoU) was signed with Russia and Kazakhstan on temporary import of wheat, according to Iran's Deputy Head of Trade and Agricultural Development.

Ali Akbar Mehrfard told reporters on the sidelines of a conference on introducing business opportunities with Iran's agricultural sector and the Eurasian Economic Union that given that the capacity of the country's flour factories is two-fold that of domestic consumption, the temporary entry of wheat for flour production could be an advantage for our country's economy.

He said Iran has signed an agreement with the two countries on temporary entry, transit, and swap of wheat.

Mehrfard stated that wheat swaps are predicted but details are not yet known.

Swap means receiving goods at one point and delivering them at another point in the desired geography.

Deputy Head of Trade and Agricultural Industry, pointing out that Iran was self-sufficient and did not need imports until last year, said wheat is not a preferential tariff.

Russia is the world's largest commercial producer and exported 43 million tons of wheat last year, he said.

Referring to the interim trade agreement between Iran and the Eurasian Union, Mehrfard highlighted that "we have neither given nor received tariff privileges in some goods, but good measures have been taken in the areas of quarantine, customs, and health.

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