25/10/2023

Russia and Iran have agreed to zero tariffs on goods from both countries.

“As the commercial development of relations between Iran and Eurasian countries, the problems of operators in the field of customs, tariffs and a competitive market will be resolved by the end of the year (according to the Persian calendar, that is, by March 2024),” said Kambiz Merkazemi, a member of the Joint Iran-Russia Chamber of Commerce.

In addition, Mirkazemi noted that Iran will switch to payments in national currencies in trade with countries such as Russia, Belarus and Armenia.

How will  zero customs duties affect trade?

In the best way, of course. There are fewer hassles with documents and customs – it’s easier and faster to deliver goods from one country to another and back. Accordingly, both trade turnover and profits of market participants will increase.

What goods does Russia import from Iran?

Top: auto parts, medical products and mineral fertilizers. It is also profitable to buy clothes, fabrics, fruits and vegetables in Iran and sell them on the Russian market.

What goods does Iran import from Russia?

Here in the top: oil products, grain crops (wheat, barley, corn), sunflower oil, agricultural machinery.

We wrote in more detail about the trade turnover between Iran and Russia in our previous article.

Considering that since the beginning of the year it has amounted to $5 billion and plans to increase, the abolition of duties will quickly and greatly increase this figure. In addition, the abolition of duties is also beneficial for companies that are involved in export/import and logistics.

Without duties, companies will be able to offer their customers better prices and faster cargo delivery. By the way, products from Iran are renowned for their quality in the Russian market. So, if your company is just thinking of starting to supply goods from abroad, you can safely consider Iran.

You will definitely gain useful contacts, good experience and be able to increase your profit.