Iran, Belarus eye boosting bilateral trade volume to $1bn following US sanctions

Iran and Belarus have reviewed efforts and agreed on steps to gradually increase bilateral trade volume to $1bn, as US reimposed sanctions took a toll on bilateral commercial ties between the two countries.

Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) President Masoud Khansari led a delegation of Iranian private sector businessmen to Belarus on 23-26 July.

Khansari said the delegation of over 20 business people came to Minsk in order to give a fresh impetus to bilateral trade and economic cooperation.

Cited by the Belarusian Telegraph Agency (BelTA), Masoud Khansari said he believed that everything is in place to boost the bilateral trade up to $1 billion as was agreed at the highest level.

Speaking at Belarusian-Iranian Business Forum that was held on 24 July in Minsk, Chairman of the Belarusian Chamber of Commerce and Industry (BelCCI) Vladimir Ulakhovich called for more efforts to reach a milestone of $1 billion trade turnover to be taken following the talks between senior officials of the two countries.

Iran’s Ambassador to Belarus Mostafa Oveysi also emphasized the need to enhance relations between private sectors of the two countries, saying that Iran’s embassy to the country is ready to provide necessary assistance and support.

In turn, the head of Tehran's Chamber of Commerce noted the possibility of getting access to the market of Iran's neighboring countries with total population of 400 million people. “The level of trade has yet to be compatible with the level of good political relations between the two countries and with the capacities of Iran,” said Khansari.

According to Masoud Khansari, the most promising areas of cooperation include mechanical engineering, pharmaceutics and agriculture.

Khansari also met with deputy Belarusian Agriculture Ministry Igor Brylo, emphasizing that both countries can increase their agricultural exchanges.

Lack of international banking relations with Iran, caused by the reimposed of unilateral US sanctions, have nearly blocked export and import from other countries. That’s why, Khansari proposed barter trade to unblock foreign trade.

source: ICCIMA