Dec 30, 2024 (MENAFN via COMTEX) --
(MENAFN) Iran imported non-oil commodities valued at USD1.1 billion from Russia during the first eight months of the current Iranian calendar year (March 20-November 20), according to Foroud Asgari, head of the Islamic Republic of Iran Customs Administration (IRICA). Russia ranked as Iran's fifth largest source of imports during this period.
Highlighting the growing economic partnership, Russian President Vladimir Putin recently emphasized the stability and reliability of trade and economic relations with Iran. Speaking at the 15th VTB Russia Calling! Investment Forum in Moscow, themed "The Future of Capital and the Capital of the Future," Putin expressed optimism about increasing bilateral trade volumes and noted progress in joint projects across logistics, energy, industry, and security sectors.
A key milestone in this partnership is the development of the North-South Corridor, which has become operational and is seeing a steady increase in transportation volume. This enhanced corridor forms part of two major transit-logistics projects between the nations--the Ulyanovsk-Astara rail corridor and the Volga-Caspian Sea river route.
These initiatives are designed to optimize trade routes, significantly reducing cargo transport times from 21 days to just seven.
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COMTEX_461384676/2604/2024-12-30T21:54:30
