News ID: 255737
Published: 0246 GMT July 13, 2019

Official: Iran ready to offer credit line for more tech-based trade with Russia

Official: Iran ready to offer credit line for more tech-based trade with Russia

Head of Iran’s National Innovation Fund Ali Vahdat said that Tehran is ready to jointly open a credit line with Moscow for merchants of technology-based products to increase the volume of trade between his country and Russia.

Speaking at a trade-technology meeting in Moscow, Vahdat said Iranian technology and innovation system has experienced important developments over the recent years and has achieved valuable achievement, reported Fars News Agency.

He added that Iranian new technology-based firms (NTBF) and startups have significantly promoted developing advanced technologies like biotechnology, IT, communication and nano-technology.

Iranian NTBFs and startups are ready to reinforce trade ties and technological cooperation with Russia, he noted.

He also assured Russian side that Iranian companies will be supported and guaranteed by Iran National Innovation Fund.

On Friday, representatives from scores of Iranian and Russian NTBFs in a meeting in Moscow, discussed ways to increase cooperation.

The first meeting of Iranian and Russian NTBFs started work with the attendance of Iranian Vice President for Science and Technology Sorena Sattari and Iran Ambassador to Russia Mehdi Sanaei.

Russia is determined to increase its economic interactions with Iran regardless of the US’ unilateral sanctions and pressures.

On Tuesday, Russian Permanent Representative to the European Union Vladimir Chizhov stated that Russia will ignore US sanctions against Iran and continue to trade with it without creating any special mechanisms.

"Our colleagues here [in Brussels] sometimes ask why Russia and China do not create their own INSTEX. To that we answer with the question: why do we need it? We have already traded and will trade without paying any attention to US sanctions," Chizhov underlined.

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