Iran Press/Iran news: The Russian-Iranian trade exceeded $1.7 billion in 2018, but the two countries have a potential to increase this indicator, Russian Minister for North Caucasus Affairs Sergei Chebotarev said on Sunday at Iran-Caucasus Joint Economic Committee meeting, Tehran Times reported.
The Russian minister noted that this volume was very modest adding that Russia and Iran had a 'much higher potential' in this field.
According to Chebotarev, the two sides must do everything possible to achieve a new level in bilateral trade.
2th Iran-Caucasus Joint Economic Committee meeting kicks off on Sunday with Iranian Energy Minister Reza Ardakanian, the Minister of North Caucasus Affairs of the Russian Federation Sergei Chebotarev, the deputy prime minister of the Russian Republic of Dagestan and eight regional ministers in attendance.
During the three-day events, nine working groups and three specialized committees are scheduled to be held to explore cooperation in a variety of areas including industry, energy, transport, ICT, etc.
Establishing a freight line between Zhukovsky International Airport in Moscow and Isfahan International Airport, joint production of freight wagons, joint production of small-scale turbines, joint production of heavy vehicles, and exports of meat from North Caucasus region to Iran are some of the projects which are going to be discussed during the Joint Economic Committee meeting.
It is also agreed for the two countries’ businessmen and entrepreneurs to hold B2B talks on the sidelines of the upcoming event in order to explore avenues of mutual cooperation.
As part of the Russian Federation, the Northern Caucasus region is included in the North Caucasian and Southern Federal Districts and consists of Krasnodar Krai, Stavropol Krai, and the constituent republics.
Earlier this week, Iran moved to create a free trade zone with the Eurasian Economic Union, which Russia is part of. 208/104
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