“In 2016, agricultural trade turnover between Ukraine and Iran stood at $806.8 million, but both sides agree that our potential is not fully tapped,” Olga Trofimtseva, Ukraine’s deputy agriculture minister, said in a statement reported by Xinhua.

“We have all the prerequisites to reach $1 billion in bilateral trade within the next two or three years,” she said.

Trofimtseva stressed that Ukraine sees good prospects for increasing the supplies of flour, oilseeds, vegetable oils, confectionery and milk products to Iran.

“Ukraine is also willing to implement joint agriculture projects with Iran in cattle breeding, aquaculture and seed production,” she added. In 2016, Iran was ranked sixth among main importers of Ukraine’s food and agricultural products. India was the largest importer of Ukraine’s farm products, followed by Egypt and China.