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Russia, Lucrative Market for Iran Petchem Industry: Envoy

Russia, Lucrative Market for Iran Petchem Industry: Envoy
(Tuesday, June 13, 2023) 00:10

TEHRAN (NIPNA) -- Iran sees Russia as a lucrative market and a potential partner for its booming petrochemical industry, which has an annual output of over 90 million tons and is well-known globally, the Iranian ambassador to Russia said on Monday.

Kazem Jalali told Nipna that many Russians were unaware of Iran's impressive capabilities in the petrochemical sector until recently, when sanctions issues opened their eyes to Iran's potential.

He was speaking on the sidelines of the 13th international exhibition of plastics and rubber industry in Moscow, where Iran had a strong and prominent presence for the second time.

Jalali said Iran had diversified its exports to Russia and established trade and cooperation in various fields, especially petrochemicals and technology. He also cited cooperation in medicine, medical equipment and other areas.

"Russia has a big market that requires a lot of work and on the other hand Iran has a variety of products and equipment that provide potential for cooperation," he said.

He acknowledged some obstacles for this cooperation, but said they would be gradually removed.

Jalali hailed Iran's participation in the exhibition as a display of its petrochemical power in Russia and a golden opportunity for expanding the market and customers there. He also said Iran was looking for joint investments with the countries participating in the exhibition.

Jalali said many companies had attended the exhibition and some very good contracts had been signed. He hoped they would have good results.

He appreciated the petrochemical companies for their efforts and trust in the government. "They took a very big step and despite having a big market in the world, they also tried to expand their market in Russia," he said.

Jalali said he was trying to remove the obstacles for cooperation. "Some obstacles have existed for years and are not easily solved. For example, when we talk about transit, we need to develop railroads. When we talk about logistics, we need to go towards building ships in the Caspian Sea. Some obstacles exist in the banking sector, but some interactions have been created in this field. In the customs sector, good interactions have been established and the heads of customs of both countries met in Tehran," he said.

Jalali stressed that Russia had a good capacity for market development and that Iran should increase its market share by speeding up cooperation.

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