Russia and Iran have agreed to sign a free trade agreement with the Eurasian Economic Union in the near future, Russian Deputy Prime Minister Alexander Novak said on Tuesday, Mehr reports.
"We have also agreed to remove all barriers that exist today on the way of developing bilateral trade. And we are talking about reducing barriers at the borders with third countries. We have agreed to conclude an agreement on a free trade zone between Iran and the Eurasian Economic Union in the near future," Novak said during a press conference, following the meeting of the Russia-Iran intergovernmental commission on trade and economic cooperation.
Besides, Novak added that Russia and Iran see opportunities for implementing joint projects, including in the field of machine and aircraft building.
"Russia and Iran see opportunities for joint projects in the field of shipbuilding, automobile and aviation construction, and there are already joint projects, agreements between Russian and Iranian companies on organizing the necessary joint ventures and supplying relevant components," he said.
The minister went on to reveal that the two countries have already started swap deliveries of energy resources, in particular petroleum products, and have agreed to expand the list of supplied goods.
Novak said in October that Russia and Iran were working on the details for the implementation of swap oil and gas supplies. He expected that the swap agreement would be signed by the end of 2022, and could cover 5 million tonnes of oil and up to 10 billion cubic meters of gas per year at its first stage.
"Our deliveries of petroleum products have already begun, and we have agreed to expand the range of relevant products. This is also a promising area of our joint cooperation," Novak told reporters.
The trade turnover between Russia and Iran increased by 36.4% to $3.3 billion in eight months, Novak said.
"According to the results of eight months of this year, the trade turnover [between Russia and Iran] increased by 36.4% and amounted to $ 3.3 billion," Novak said during a meeting of the Russia-Iran intergovernmental commission on trade and economic cooperation.
Russian deputy prime minister said that he believes the trade turnover will soon amount to $4 billion, as it is growing at a record pace.
