TEHRAN (NIPNA) – Iran will lower the tariff on petrochemical exports to Russia to 4% from around 20% starting May 15, a senior official said on Friday, in a move aimed at boosting trade between the two countries.
Hassan Abbaszadeh, Deputy Minister of Petroleum and CEO of the National Petrochemical Company, announced the decision on the sidelines of the 18th Iran-Russia Joint Economic Cooperation Commission meeting.
"With the implementation of the Eurasian Free Trade Agreement on May 15, the import tariff for products to Russia will be reduced to about 4%," Abbaszadeh said. "This creates a significant opportunity to expand Iran’s petrochemical exports to Russia and the Eurasian region in the coming years."
Abbaszadeh also said Iranian companies active in the plastics sector would participate collectively under a national pavilion at the upcoming Rosplast Exhibition in Russia. "Our aim is for major polymer exporters to present their capabilities to Russian firms and lay the groundwork for increased exports," he said.
Highlighting the government’s strategy to diversify export markets, Abbaszadeh added that participation in the exhibition would support broader efforts to strengthen trade ties with Russia and Eurasian countries.