Iranian, Russian provinces ink economic cooperation agreement
Baku, Azerbaijan, Oct.22
By Fatih Karimov - Trend:
Iran's Lorestan province and Russia's Smolensk province signed an agreement to bolster economic cooperation.
The agreement was signed at the end of a 4-day visit of Lorestan province's trade delegation to Russia, Iran's IRIB reported on October 22.
The trade delegation held meetings with 40 managers of Russian companies and enterprises.
Iranian Oil Minister Bijan Namdar Zanganeh has said that the value of bilateral trade between the Islamic Republic of Iran and Russia can rise more than tenfold.
Bilateral trade amounted to $1.5 billion, which has the capacity to be increased to more than 10 times through efforts made so far, IRNA quoted Zangeneh as saying.
Head of Iran-Russia Joint Chamber of Commerce Asadollah Asgaroladi said in September that the chamber is studying a plan to replace the two country's national currencies - rial and ruble - for their bilateral trades.