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Russia is set to begin engineering studies for the Rasht-Astara railway, enhancing trade and connectivity with Iran, as confirmed by Russian Transport Minister Roman Starovoit. The executive agreement for the project is expected to be finalized by March 2025, following a recent annex agreement that allows preliminary studies. The 162-kilometer railway will link Rasht in Iran to Astara on the Azerbaijan border and is estimated to cost €1.6 billion, with Russia providing a €1.3 billion loan. This project is part of the larger International North-South Transport Corridor, aimed at improving regional trade routes and economic ties.
China’s expansion of zero-tariff goods is set to reshape its trade landscape, enhancing development potential and lowering import costs. The range of zero-tariff items will increase from around 1,900 to approximately 6,600, as discussed during a recent China Economic Roundtable. This initiative will ease import and export regulations, allowing smoother trade and better integration into global supply chains. Benefiting all enterprises with import needs, including non-enterprises, the policy aims to lower production costs and stimulate economic growth. With the island-wide independent customs operation launching on December 18, businesses are urged to prepare for these transformative changes.
During the 7th Session of the Kenya-Iran Joint Commission for Cooperation in Nairobi, Iran’s Agriculture Minister Gholamreza Nouri Ghezeljeh emphasized Kenya’s strategic role as a vital partner in Eastern Africa. He highlighted the need to improve the current trade relationship, described as “unsatisfactory,” and urged for immediate action to enhance it. Ghezeljeh identified Kenya as Iran’s gateway to East Africa, expressing optimism that bilateral trade could exceed $1 billion with effective collaboration. He called for efforts in technology transfer and agricultural development, aiming to unlock significant economic potential and foster a mutually beneficial partnership between the two nations.
Uzbek Ambassador Fariddin Nasriev recently met with Zanjan province officials during the Economic Cooperation Organization summit, emphasizing the cultural and economic ties between Iran and Uzbekistan. He noted the recent visit of a Khorasan Razavi trade delegation to Uzbekistan and announced plans for an Iranian delegation to follow. Both nations aim to boost bilateral trade to $2 billion annually, focusing on transport, banking, and tourism cooperation. Additionally, Uzbekistan’s Trade House in Tehran is set to enhance trade. Discussions also included mutual visa waivers and investments in sectors like textiles, highlighting a commitment to expanding relations and collaboration.
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