Russia and Iran should develop a way to use their own currencies in mutual trade, Russian minister of economic development said.TEHRAN, November 30 (Sputnik) The central banks ofRussia and Iran are working ondeveloping ways tomake mutual payments innational currencies, Russia's Minister ofEconomic Development Alexey Ulyukaev told reporters Sunday.
"Mechanisms ofusing national currencies inmutual relations [between Russia and Iran] that involve lending innational currencies and using contracts innational currencies should be established. The central banks [of both countries] should focus onthis, and they have already started working onit," Ulyukaev said.
The minister also noted that the Ministry ofEconomic Development supports the idea ofmutual payments innational currencies, butthe time frames have not been discussed yet.
Ulyukaev emphasized that different dynamics ofthe currencies' exchange rate and the necessity ofclose relations betweenthe central banks ofboth states are the main difficulties that the countries may face.
The main benefits ofthe mutual payments innational currencies are the absence ofcharge forthe currencies conversion, direct payments and higher transparency inrelations betweenthe banks.
Russia toAssist Iran inJoining World Trade Organization
Russia has agreed toassist Iran injoining the World Trade Organization (WTO), a joint Russia-Iran memorandum said Sunday.
"The Iranian party asked touse the Russian experience and toreceive the necessary assistance inIran's joining the WTO. The Russian party agreed toprovide the necessary assistance," the document signed byRussia's Minister ofEconomic Development Alexey Ulyukaev and Iranian Minister ofIndustries, Mines and Trade Mohammad Reza Nematzadeh said.
Moreover, Russia and Iran have agreed toincrease bilateral trade and enhance cooperation insharing information onpromising investment projects. It has also been decided tostart communication betweenthe chambers ofcommerce ofthe two countries oneconomic potential and current legislation.
The memorandum will expire inone year.
Russia, Iran Plan toSign Contracts forNon-Primary Goods Export
Russia plans tosign contracts withIran onthe export ofnon-primary goods, including oil and gas equipment, cars, planes, agricultural machinery, Russian Economic Development Minister Alexey Ulyukaev said Sunday.
"We could be moving forward withexport ofour non-primary goods [to Iran], which is very important and interesting: agricultural machinery, cars, planes, railway cars, trains, machinery, electrical generators, oil and gas equipment, etc.," he told journalists.
Ulyukaev added that duringthe talks withIranian colleagues they discussed measures aimed atincreasing goods turnover betweenthe countries. He also underscored that there are several planned projects inagriculture, and inlogistics. Ulyukaev said that it is possible touse additional transit routes todeliver goods betweenthe countries tocomplement the existing sea route. He explained that the rail shipping operations are also possible viaAzerbaijan, or viaTurkmenistan.
"Every transits and transport corridors create opportunities, this is why we are speaking aboutAzerbaijan now, transit viaTurkmenistan is also possible," the minister added.
Russia toBegin Deliveries ofGrain, Manufactured Products toIran
Russia is planning tostart deliveries ofgrain and manufactured products toIran, the Russian Economic Development Minister said Sunday.
"This issue has been discussed. We are working onit, butthere are many technical elements toit concerning the list ofgoods. Every country has its own approach tologistics, delivery process, insurance, etc. We hope we will finalize the details soon," Alexey Ulyukaev told journalists.
"It is not only aboutgrain. There other lists ofproducts. They are underdiscussion," he added.
Earlier inNovember, Iranian Ambassador toRussia Mehdi Sanaei said that Tehran was aiming todeepen its ties withMoscow, noting that the expansion ofeconomic cooperation betweenthe two countries would contribute tothe development ofbilateral relations.
In September, Andrei Gormakh, first deputy CEO ofRussia's state-controlled grain trader United Grain Company, said that Russia and Iran discussed a deal forthe supply ofgrain inexchange foroil, adding that the company could supply the Islamic republic with2.1 million tons ofgrain annually.
The same month, Russian Energy Minister Alexander Novak said that Russia was not innegotiations concerning "oil-for-goods" supplies fromIran, butnoted that such a deal was possible.
By Sputnik News
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