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Russia, Kazakhstan and Iran signed Memorandum of Understanding on trade in wheat

Russia, Kazakhstan and Iran signed Memorandum of Understanding on trade in wheat

2/12/2019
The Ministries of Agriculture of Russia, Kazakhstan and Iran concluded a tripartite memorandum of understanding on trade in wheat. The arrangement on signing the memorandum has become one of the results of negotiations under the Interim Agreement leading to the formation of a free trade area between the Eurasian Economic Union (EAEU) and Iran. The signing ceremony that took place on February 12 in Moscow was attended by the Member of the Board – Minister in charge of trade of the Eurasian Economic Commission (EEC) Veronika Nikishina.

Veronika Nikishina expressed her hope that the memorandum signed between Russia, Kazakhstan – the key suppliers of wheat to the global market – and Iran would be the first step on the way to revive full-value chains for supplies of high quality wheat from the EAEU to the market of Iran and the entire region.

“We need to consider this event in the context of preparation for entry into force of the Interim Agreement signed in May 2018. The Agreement has already been ratified by the Republic of Belarus, the Kyrgyz Republic and the Russian Federation. We are convinced in the prospects of interaction with Iranian partners and are willing to proceed with the dialogue in various areas of trade and economic cooperation by virtue whereof we rely on expeditious completion of procedures for the ratification of the agreement both on part of the EAEU participating countries and Iran”, - mentioned Veronika Nikishina.