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August 29th, 2022 
Awake Goy 
TEHRAN- A trade delegation of 125 traders and businessmen from 78 Russian companies, that are active in various economic and commercial fields, will visit Tehran during September 19-22 in order to meet and negotiate with their Iranian counterparts, the portal of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) reported.
The field of activity of the members of this board includes areas such as food and agriculture products such as meat, pasta, mineral water, all kinds of drinks, grains, sweets and chocolates, all kinds of edible oils, and aquatics, as well as food and agriculture industry equipment and machinery, packaging, health, medicine and medical equipment, construction materials, glass and crystal, wood industry, auto parts, transportation, industrial equipment, metal industry, telecommunication and radio systems, drilling and mining, energy, recycling, advertising and digital marketing, education, etc.
Therefore, in order to make maximum use of the capacity of this trade delegation in Iran, the International Affairs Department of the TCCIMA intends to provide the opportunity for dialogue separately with interested Iranian businessmen and entrepreneurs by scheduling bilateral business meetings.
Iran and Russia have taken significant steps for removing the U.S. dollar from their bilateral trade, launching a settlement system to use their national currencies in economic exchanges, renowned American business magazine Forbes admitted in an article piece published last month.
Iran’s Integrated Forex Market launched the Ruble/Rial currency pair in early July, following a visit of Central Bank of Iran (CBI) Governor Ali Saleh-Abadi to Moscow.
The new arrangement means the two countries can now settle trading debts in each other’s currencies. The first trade took place on July 19, the day that Russia’s President Vladimir Putin arrived in Iran for talks with Leader of the Islamic Revolution Seyyed Ali Khamenei and President Ebrahim Raisi.
As reported, the new monetary system could significantly reduce the two sides’ demand for dollars. Bilateral trade between Iran and Russia stood at four billion dollars in 2021 but the two countries say they are hoping to ramp up bilateral trade to eight billion dollars in the short term.
The new trading arrangement allows them to avoid the use of dollars and, by doing so, also sidestep the impact of the U.S. sanctions.
Iran’s deputy foreign minister for economic diplomacy Mehdi Safari has also floated the idea of developing a new interbank messaging system between Iran and Russia. This could act as an alternative to Swift.
Speaking to the media in late July, Saleh-Abadi said: “Two countries that want to de-dollarize their transactions must have a special system similar to Swift… We have practically reached a very good agreement.”
Last week, Iranian Minister of Industry, Mining, and Trade Reza Fatemi-Amin, who had traveled to Russia to visit the MIMS Automobility Moscow 2022 exhibition, said that Russia is eager for expanding economic ties with Iran.
Fatemi-Amin made the remarks on the sidelines of a meeting with representatives of Iranian companies participating in the mentioned exhibition at the place of the Iranian embassy in Moscow.
Speaking at the meeting, Fatemi Amin said Russian companies are interested in cooperation with Iranian counterparts, especially in the fields of automobiles, pharmaceuticals, and home appliances.
“All our efforts at the Industry Ministry are aimed to remove the existing obstacles as much as possible,” he stressed.
Iran and Russia have made agreements on cooperation in aviation and maritime industries and are planning on taking joint measures in the future, Fatemi-Amin said at the end of the meeting.
The minister told reporters that the two countries have made agreements on aviation and shipbuilding industries, noting that big steps have been taken in the industry sector in both Iran and Russia that has to be pursued to bear fruit.
The Iranian minister said that the main ties are being formed between Iranian and Russian businesses and the governments are only facilitating the relationship.
If the businesses are linked through joint investments, they can hardly be separated, he noted, adding that the cooperation being shaped between Iran and Russia wouldn’t be stopped even if the European and American sanctions on Russia are lifted.
MA/MA
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