Ministry of Economic Development: Russian-Iranian trade turnover doubled

The year-on-year trade turnover between Russia and Iran almost doubled in January 2017, exceeding $155 million, the Russian Ministry of Economic Development said.

"The Russian-Iranian trade turnover in January 2017 increased by 98% if to compare with January 2016 and reached $155.1 million," Sputnik cited the ministry as saying.

The statement added that Russia's exports to Iran had increased by 2.7 times up to $117,7 million, while the exports of the Middle Eastern country had increased by 6.3% up to $37.3 million.

According to the statement, Russia's exports of machinery to Iran during the given period increased by 7.1 times and of innovative goods by 79.2%.

Earlier in March, Iranian Ambassador to Russia Mehdi Sanaei expressed hope that the volume of trade between the two states could reach $10 billion in the coming two or three years from the 2016 results of $2.18 billion.

Iranian President Hassan Rouhani will arrive in Russia on an official visit today. During his meeting with the Russian President Vladimir Putin on March 28, joint projects of the two countries in the field of energy and transport infrastructure will be discussed.