Russian companies call for stronger economic ties with Iran

Business Materials 22 October 2013 19:56 (UTC +04:00)

Azerbaijan, Baku, Oct.22/ Trend, F. Karimov/

Representatives of a number of private sector Russian companies have called for establishing stronger economic ties with Iran, IRIB reported.

In a meeting which was held at Moscow chamber of commerce, they urged related officials to remove hurdles on the way to boost the two-way trade.

The vice chairman of the Moscow chamber of commerce said that the Russian private sector can seize the opportunity to invest in the oil and gas, power plant, transport, and agriculture sector of Iran.

Russian Ambassador to Iran Levan Dzhagaryan has said that the two countries are willing to give a boost to their bilateral trade.

In February 2012, Iran and Russia signed two deals for boosting bilateral trade in Moscow.

In June 2012, former Iranian Industry, Mines and Trade Minister Mehdi Ghazanfari said that annual trade between Iran and Russia is currently around $4 billion, but the two countries have the potential to raise it to $8 billion.

In January 2012, Iran and Russia started using the rial and the ruble in their trade exchanges and dropped the U.S. dollar.