Iran, Russia to set new highs in economic ties

News ID: 3846292 -
TEHRAN, Dec. 10 (MNA) – A strong 590-member Iran-Russia 3-day commission will address effective implementation of Putin-Rouhani strategy to boost bilateral trade.

Iran’s state news agency IRNA report said that the commission would be unprecedented in recent years by Iran and Russia; the 13th joint commission will be headed by Iran’s Mahmoud Vaezi, Minister of Information Technology and Russia’s Alexander Novak, Minister of Energy, who will arrive in Tehran along his entourage on Sunday, among whom are important entrepreneurs.

Russian quota in the economic commission is 270 participants and a workgroup will address issues in energy and telecommunications, new opportunities in sectors, and implementation of past agreements; Iran’s ambassador to Moscow Mehdi Senaei had already negotiated with Novak construction by Russian contractors of Bandar Abbas thermal power plant worth € 1.29bn, along with other projects which included metrology, standardization, good quality assessment, and other projects of private sector.

The joint commission will also establish the first ever joint energy commission to bolster ties in the energy sector.

Tehran session will also seek to make efficient the legal and official frameworks of bilateral cooperation; on the sidelines of the event, a 1-day session of tradesmen and heads of 200 companies will meet, where Russia will participate with 320 members, which will make the session the greatest ever such congregation of businessmen in the history of bilateral relations.

Russia has on agenda to accelerate its trade cooperation with Iran and to raise the trade volume to annual staggering figure of $ 4bn; experts in Moscow would see that prospect bright, since Iran provides low-cost transportation which at the same time diverse; in 2015, Novak chaired in Moscow a strong 70-member Iranian delegation meeting where they signed deals in trade, power plant building, railroad, power and electricity worth $ 40bn.

With Rouhani having assumed the power, there has been a giant leap forward in bilateral trade and economic ties culminated since then; both countries saw a low point of a little more than $ 1bn in 2013.

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