Wednesday, December 12, 2018  
Iran-Russia economic ties up 70 percent over last year

Wednesday, Nov 01, 2017

Iran’s Economy Minister says that the volume of trade between Iran and Russia witnessed a 70 growth over the last year.

(SHADA: TEHRAN) -- After a meeting with the Russian Energy Minister Alexander Novak, Masoud Karbassian said: In line with the visit of the Russian and Azerbaijani presidents to Iran and the tripartite summit in Tehran as well as holding a joint economic commission between Iran and Russia in the near future, today a meeting was held to co-ordinate various affairs with the Russian officials.

He stated that the visit was a great opportunity to review the relations and development of bilateral cooperation between the two countries, saying: Fortunately, the development of Russian-Iranian relations has advanced well enough so that we witnessed a 70% increase in the volume of economic relations between the two countries in last year.

The cooperation fields have been provided with a great variety between the two countries, including investment agreements, the launch of phase 2 and 3 of the Bushehr Nuclear Power Plant and the 1400 megawatt hydropower plant in Bandar Abbas, the development of joint maritime and rail transport, agricultural projects, pharmaceutical, oil and gas cooperation, the minister continued.

He also mentioned the finalization of negotiations for Iran's cooperation with the Eurasian Economic Treaty, solving banking problems, establishing banking and customs cooperation, in particular the creation of a green channel for Iranian businessmen, which have paved the way for deepening economic cooperation between the two countries.

The Russian Minister of Energy Alexander Novak, for his part, said: Following the orders of the two countries’ presidents to enhance economic cooperation in various sectors, after a comprehensive and detailed discussion, we assessed different aspects of a roadmap to bolster economic ties between Iran and Russia.


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