Tehran, Iran, July 22

Trend:

The Russian company ELECOND is trading products with Iranian businessmen in rial.

Moiseenko Alexander, ELECOND Business Development Director in Iran told about activities of the company in an interview with Trend.

"Our company produces aluminum electrolytic and tantalum capacitors that are consumed in radio-electronics industry and telecommunication," he said. "ELECOND has opened office in Iran to have closer cooperation with its customers in Iran and sell our products in rial."

"The main reason for setting up the ELECOND office in Iran were problems in money transfer. Transferring foreign currency from Iran to other countries is difficult and almost impossible, therefore we opened a representative office here to sell our products in rial," he said. "The products that are sold in Iran have guarantee from the manufacturing factory and there is no mediator for sale."

"The ELECOND representative office in Iran operates as Rasha Pars Trade Pulse. Iranian customers are content with the quality of our capacitors, as it is much higher in comparison with Chinese products," he added.

"The volume of our annual sales reaches €400,000 sale each year. In the first three months of current Iranian year (started March 21,2019) we have sold products worth up to €80,000. The Iranian companies also provide insurance, marketing and postal services," he said.

Open Joint Stock Company "ELECOND" is a leading Russian manufacturer of aluminum electrolytic capacitors, tantalum wet-slug capacitors, and tantalum and niobium solid-electrolyte capacitors. More than 1600 enterprises in Russia and CIS countries cooperate with OJSC "ELECOND". Main customers of OJSC "ELECOND" are enterprises of radio-electronics and electric power industries, medical devices, telecommunication, and railway industry.

"Our company has accounts in Melli Bank, Export Development Bank of Iran and Sberbank of Russia. The Mir Bussiness Bank in Russia is the Melli Bank branch that can transfer euro and ruble payment order to Iran," he noted highlighting financial operations with Iran.

"Iranian businessmen are not familiar with this system and they use foreign exchange offices to trade with Russia, but the exchange offices do not transfer money directly to Russia; they transfer the money from Turkey or Tajikistan to Russia. This a problem, since if there is a contract between companies in two countries, the money should not be transferred via a mediator country," he added.

"We tell everyone that if they want to open an account in Melli Bank and pay in rial and receive ruble, the process is open for everyone," he said.

He informed that it is the first time that ELECOND is attending the Elecomp exhibition, but previously the company participated in Telecom fair.

Iran Telecom innovations fair showcases the telecom market in Iran, with includes equipment and infrastructure vendors, satellite operators, wholesale carriers, VAS solutions suppliers, OSS/BSS vendors and more.

The 25th Iran International Electronic, Computer & E-Commerce Exhibition (Elecomp) opened on July 18 under the slogan of "Better Future". The four-day exhibition is the greatest commercial event in Iran's market of electronics and computer products and services.

In total, 814 foreign and domestic companies attended the exhibition. Some of the foreign companies represented China, Russia and Azerbaijan.

Elecomp was set up in 1995. At the event, players of this sector in Iran introduce their latest achievements in software and hardware. The exhibition provides a unique opportunity to the participants to negotiate possibilities of establishing new business and technological ties to boost their business and increase their share of this huge and ever growing market.