Iran's Deputy Industries, Mines and Trade Minister Mojtaba Khosrotaj and his Russian counterpart said that the private sector can play a significant role in raising Iran-Russia trade to $10 billion a year, Fars News Agency reported.
Khosrotaj pointed out that Tehran and Moscow are planning to boost trade exchanges.
In early April, Russian Foreign Minister Sergei Lavrov said that Moscow and Tehran are taking wide strides for strategic partnership.
"Russia has age-old and strategic relations with Iran," Lavrov told reporters.
The Russian minister said that his country is ready to broaden mutual cooperation with Iran in various fields.
In the last several years, Iran and Russia have had vast cooperation in a number of areas, especially in political and economic spheres.
The two states also have similar views at the international level and have long had constant and regular consultations on key regional and global issues.
On November 23 President Putin was in Tehran to meet top Iranian officials and participate in the Gas Exporting Countries Forum (GECF) conference.