News ID: 240147
Published: 0353 GMT March 12, 2019

Iran, Russia continue talks on joint economic commission

Iran, Russia continue talks on joint economic commission

Iran's Energy Minister Reza Ardakanian in a phone conversation with Russia's Minister of Energy Alexander Novak discussed further coordination of the 15th Iranian-Russian Joint Commission.

According to a statement by the Russian Energy Ministry, the ministers addressed several fields, reported Mehr News Agency.

They also explored ways to boost bilateral relations in the field of economy and called for stronger cooperation in energy, industry, transit and agriculture sectors.

Tehran is set to host the 15th meeting of the commission. The date of the event will be announced later.

During the 14th meeting of the commission, which was held in Moscow in March 2018, the two sides signed 14 memorandums of understanding (MoUs) on cooperation in the fields of electricity, nuclear energy, transportation, industry, trade, customs and banking transactions.

Accordingly, an MoU was signed between the working groups of the Russian Ministry of Energy and the Iran’s Oil Ministry for cooperation on the India-Iran-Pakistan gas pipeline, an MoU on geology cooperation, an MoU on financing and investment in Iran’s mines and industries, as well as an MoU on joint research and development on underground resources and Caspian seabed.

The two sides also inked an agreement on joint investment in thermal power plants, an MoU on cultural cooperation, transportation, as well as a trilateral agreement between Iran, Russia and Kazakhstan on transit and wheat swap.

Iran exported $533 million worth of commodities to Russia in 2018, which registered a growth of 36 percent compared to the preceding year.

According to Farhad Parand, Iran's commercial attaché in Moscow, the exports mainly included pistachio, raisins, dates, apple, cucumber, tomato, fish, shrimp, milk, cheese, tea, kiwi, cabbage, copper, transportation vehicles and cement, as well as plastic and chemical products.

Parand noted that Iran-Russia trade stood at $1.74 billion last year to register a two-percent growth compared to 2017.

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