News ID: 173613
Published: 0714 GMT December 11, 2016

Iran, Russia set for new era of cooperation

Iran, Russia set for new era of cooperation

Signs are growing that Iran and Russia are preparing for a new era of economic cooperation in which energy — among other sectors — will have a central role.

Russia's Energy Minister Alexander Novak will meet Iran's Oil Minister Bijan Namdar Zanganeh on Tuesday to discuss ways to expand Iran-Russia ties in the energy sector.

Tehran is determined to take its cooperation with Moscow in the energy sector to a new level following the removal of sanctions against Iran earlier this year, ISNA reported.

Novak's visit to Iran would also follow a recent wave of energy projects awarded by Iran to global giants such as Total and Shell.

Officials in Tehran have underlined that the country is in talks with Russia's Gazprom and Zarubezhneft on the development of certain projects.

It is still not clear if either of the companies would win a deal during Novak's visit to the Islamic Republic.

Meanwhile, a major Russian trade delegation of around 600 businesspeople and officials arrived in Iran on Sunday for three-days of talks with their Iranian counterparts to explore ways to boost trade relations between the two countries.

The delegation, described as biggest ever to visit Iran from Russia, would include representatives from 200 companies involved in the energy, agriculture, banking, transportation, education, forestry and aviation.

During his stay in Tehran, Novak will also co-chair the 13th Iran-Russia Joint Economic Commission meeting with Iran's Minister of Communications and Information Technology Mahmoud Vaezi.

The two countries are expected to sign a series of agreements that include the construction of four units of thermal power plants in Iran's southern city of Bandar Abbas.

Trade between the two countries currently stands at below $2 billion. Both are determined to double this by the end of 2017.

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