Russia, Kazakhstan and Iran signed the trilateral agreement on wheat supplies


On February 12, the Ministries of Agriculture of Russia, Kazakhstan and Iran signed the trilateral Memorandum of Mutual Understanding on cooperation in wheat trade. The parties agreed to sign the Memorandum within frames of negotiations for the Temporary agreement leading to formation of the free trade zone between the Eurasian Economic Union (EAEU) and Iran, reported the press-service of the Eurasian Economic Commission (EEC).

According to the Member of the Board, Minister for Trade of the EEC, Veronika Nikishina, who took part in the signing ceremony of the document, the reporting Memorandum will become the first step towards the revival of full-fledged supply chains of high-quality wheat from the EAEU on the market of Iran and the whole Central Asian region.

As a reminder, the signed agreement provides for organization of wheat supplies from Russia and Kazakhstan on the Iranian market for its processing for flour, and further shipment to the neighbouring countries — Afghanistan, Syria, Iraq, etc. Also, the agreement provides for possible transit of wheat and other grains through Iran to third countries.

The market of major grains, as well as the supply & demand balances of Kazakh grains, will be one of the key topics of the second international conference "KazGrain-2019", to be held on April 4-5, in Astana.