Search Site

Trends banner

Goldwind 2024 revenue up 12.5%

The clean energy giant posted $7.8bn in revenue for 2024.

Emaar to pay $2.39bn dividend

The company had posted $19bn in property sales for 2024.

Aramco acquires stake in BHIG

The 50% equity interest in BHIG is Aramco-APQ joint venture.

ADNOC L&S okays $273m dividend

The final dividend of $136.5m will be paid on April 3.

ADNOC Gas to pay $3.41bn dividend

It includes $1.7 billion scheduled for distribution in Q2 2025.

Iran and Russia sign customs agreement to boost trade volume

A picture of Russian and iran flags standing side by side.
  • The Iranian minister said that a new roadmap for expanding cooperation between the two countries will be achieved with the signing of the agreement
  • The head of the Russian delegation said that his country's goal was to develop the transit capacity and to boost cooperation in order to increase trade

Tehran, Iran— Continuing with their program to deepen the relationship between the two countries, Iran and Russia have signed a new customs agreement to facilitate trade.

The agreement was made in a meeting between Mohammad Rezvani-Far, Deputy Minister of Economy and Head of the Islamic Republic of Iran Customs Administration (IRICA), and Ruslan Davydov, the head of the Federal Customs Service (FCS) in a meeting in Tehran on Wednesday.

In the meeting, Rezvani-Far pointed out that the development of cooperation and an increase in the volume of trade will be more than before with the resolve that exists between the two countries.

Referring to the areas of cooperation between the customs of the two countries and its development, he added, “By updating the agreements signed between the two countries and developing new agreements, we will achieve a new roadmap for expanding cooperation.”

IRICA chairman further said that “In addition to facilitating trade between the two countries, Iran’s customs is ready to provide special services and facilities to Russian authorized economic operators within the framework of a green customs corridor.”

He further added, “Considering that Iranian customs has been picked as a regional training center for the World Customs Organization (WCO), we can have continuous and active cooperation with Russian customs in the field of training and education.”

Rezvani-Far further called for the formation of a joint working group to examine the issues in an expert and specialized manner and then take joint action to operationalize the agreed issues. 

In the meeting, Ruslan Davydov the head of the Federal Customs Service (FCS) of the Russian Federation, for his part, welcomed the suggestions made by Iran’s customs chief, emphasizing “facilitating and speeding up customs affairs and helping economic operators with the aim of increasing the volume of trade between the two countries.”

The FCS chief, further pointed out that one of the routes that help to increase the volume of trade between the two countries is the use of the green customs route established between the two countries, adding, “the increase in the number of goods exchanged in this corridor, including technological goods will lead to an increase in the volume of trade transactions.”

He also welcomed Rezvani-Far’s proposal to form a joint working group, saying “With the formation of that working group, experts can design new mechanisms in a specialized manner in order to facilitate and develop trade.”

Attaching great importance to the tripartite agreement between Iran, Russia and Azerbaijan in the field of transit, Ruslan Davydov, “Our goal is to develop the transit capacity, and in that regard, we will do the necessary cooperation to increase transit.”

Referring to the creation of the Russian Customs Academy, Davdev called for increasing educational and training cooperation between the two countries in that field.