Business representatives highlight customs reform, financial integration and transport development as drivers of growth.
Representatives of Iran and Russia have called for the removal of customs restrictions and the acceleration of trade procedures, setting a target of US$10 billion in bilateral trade within the next three years. The proposal was discussed at a meeting in Tehran between Qadir Qiafeh, Deputy Head of the Iran Chamber of Commerce, Industries, Mines and Agriculture, and Leonid Lozhechko, Chairman of the Russian-Iranian Business Council at the Chamber of Commerce and Industry of the Russian Federation.
Qadir Qiafeh noted that Russia represents a substantial market, while Iran possesses considerable export capacity. He highlighted positive dynamics, pointing to the Eurasian free trade agreement, under which approximately US$4 billion worth of goods were exchanged during the first nine months of 2025, according to Tehran Times, a partner of TV BRICS.
The participants emphasised the importance of faster information exchange and more efficient customs procedures, particularly for perishable goods. Logistical development was also high on the agenda, including broader use of the International North–South Transit Corridor, which is expected to expand transit capacity and shorten delivery times once fully operational.
Financial cooperation formed another key theme of the discussions. Qadir Qiafeh underlined the need to enhance settlements in national currencies and to strengthen direct banking channels. Leonid Lozhechko stated that 89 per cent of bilateral trade is currently carried out under direct contracts in national currencies, while further efforts are focused on expanding financial infrastructure, including the planned opening of a Russian bank branch in Iran.
Transport connectivity is also being reinforced. According to Leonid Lozhechko, 28 vessels have been added since last year to facilitate cargo shipments across the Caspian Sea, with a further 30 planned by 2035. Fleet modernisation has increased capacity to vessels capable of carrying up to 600 forty-foot containers. Rail routes via Astara are expected to enable deliveries to Moscow within five days.
Both sides underscored the coordinating role of chambers of commerce in promoting information exchange, joint initiatives and technology cooperation in sectors such as oil, gas, petrochemicals, mining, and logistics, expressing confidence that the US$10 billion target is achievable with effective implementation of existing agreements.
