Tehran, Moscow set to sign economic, energy MOUs
Baku, Azerbaijan, Oct. 23
By Fatih Karimov - Trend: Iran and Russia are set to sign a memorandum of understanding to boost cooperation in different economic fields.
Iranian telecommunication minister Mahmoud Vaezi said the MOU covers oil, gas, electricity, transport, information technology, and banking sectors, IRNA news agency reported Oct. 23.
He made the remarks on the sidelines of his meeting with Russian Energy Minister Alexander Novak.
A joint financial committee will travel to Russia in the near future, he added.
Vaezi put the bilateral trade at around $1 billion, saying that the volume of trade will increase significantly in the near future.
Two projects, namely the electrification of Garmsar-Incheborun railway and the construction of a thermal power plant, will be implemented using the finance method.
Iran and Russia have potential to implement joint projects, worth $25-30 billion, he noted.
Novak said on Oct. 21 that Tehran is Moscow's biggest partner in the Middle East.
Ample opportunities for boosting comprehensive relations between Iran and Russia can bring the two nations closer than in the past, he added.
Novak, heading a 40-member energy delegation paid a two-day visit to Iran explore ways to boost bilateral trade.
Russian companies have the potential to export machinery, equipment, transport devices, casting products, and wooden products, Novak, said, adding that the two sides will discuss a wide range of issues, such as establishing refineries and power plants, vehicle and medicine companies, as well as high-tech industries.
Russia was the 18th major importer of Iranian non-oil goods in the previous Iranian calendar year, which ended on March 20, with importing and exporting $296.509 million and $667.18 million of non-oil goods from and to Iran, respectively, according to Iran Customs Administration.
Edited by CN