Iran, Russia, Kazakhstan sign MoU on wheat trade

Moscow, Feb, IRNA - Iranian, Russian and Kazakh officials signed a memorandum of understanding (MoU) on wheat trade at the Russian Agricultural Ministry building on Tuesday.

This memorandum of understanding was signed between the deputies of the Ministry of Agriculture of Russia, Kazakhstan and the Ministry of Agricultural Jihad of Iran.

Ali Akbar Mehrfard, the Deputy Head of Merchandise Development and Agriculture Industries of the Ministry Agricultural Jihad participated in the signing ceremony on behalf of Iran.

In the framework of the Iran-Russia Cooperation Commission, held last March in Moscow, the two sides agreed on support for the freedom of transit and wheat swap, as well as the allocation of a credit mechanism for buyers of this product in Iran.

Therefore, the Tripartite Memorandum of Understanding between Iran, Russia and Kazakhstan on transit and exchange of wheat is another achievement of the 14th Joint Commission of Iran-Russia Cooperation.

It should be noted that although Iran does not need to import this product because of self-sufficiency in wheat production, it can be a bridge to export wheat from Russia and Kazakhstan to other countries.

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