Baku, Azerbaijan, Sept. 19
By Fatih Karimov – Trend:
Russian Trade & Economic Development Council(RTEDC) signed a memorandum of understanding(MoU) with Iran’s government-owned IDRO (Industrial Development & Renovation Organization) to boost economic cooperation.
The signed deal includes cooperation in various sectors including transportation, oil and gas, renewable energy, automotive (cars and spare parts) and manufacturing non-military helicopters, Iran’s state-run IRINN TV reported Sept. 19.
The MoU also covers a financial deal, worth $2 billion for joint manufacturing of 1000 freight, passenger and metro wagons within a 3-5 year period.
RTEDC is an organisation responsible for trade promotion (TPO) with a view to strengthening foreign relations of Russian business in international markets as well as facilitating localization of foreign companies on the territory of the Russian federation.
IDRO is one of Iran's biggest organizations involved in the country's development and industrialization process.