Iran and Belarus have signed a memorandum of understanding (MOU) to expand economic ties between the two countries.
At the signing ceremony, Yahya Ale-Es’haq, Chairman of the Chamber of Commerce, Industry, Mines and Agriculture of Tehran, said that Belarus enjoys a secure economic market which facilitates the establishment of Iranian companies in the country and provides the opportunity for Iranians to expand ties with it.
The chairman of the Minsk Chamber of Commerce, for his part, said the trade transactions between the two countries currently stood at $104 million dollars and could be further increased given the high potentials of the two countries.
Belarus and Iran claim that they can raise the mutual trade turnover up to $1 billion dollars.
Belarus' main exports to Iran are potash fertilizers, synthetic fibers, synthetic fiber cords, while the main imports are cars, grape, spare parts for automobiles and tractors.
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