TCCIMA to hold online Iran-Russia business forum on Tuesday

(Tuesday, November 10, 2020) 09:24

TEHRAN - Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) is going to hold an Iran-Russia business forum via video conference on Tuesday (November 10), the portal of TCCIMA announced.

Representatives of the Iranian private sector, businessmen from both sides, as well as representatives of Russia’s Energy and Industry and Trade ministries will be attending this online event that is organized in collaboration with the Russian Export Center (REC).

The forum will be also attended by representatives of 35 Russian companies in the field of oil and gas, and bilateral talks will be continued between the two sides until December 10.

In late September, TCCIMA held an online trade conference on Iran-Russia trade which attended by officials and businessmen from the two sides.

Another business forum was also held between the two sides on October 3 through video conference. The virtual event was attended by officials and businessmen from the two sides.

Iran and Russia have been expanding trade and economic ties over the past few years despite the pressures imposed by the U.S. sanctions on both nations.

Russia is providing a $5 billion loan to Iran for implementing joint infrastructure projects;  in this regard, Russian companies are currently engaging in major Iranian projects in a variety of areas including the construction of a 1400 megawatts (MW) power plant in the southern Hormozgan province, and also the electrification of Garmsar-Inche Boroun railway that links the city of Garmsar, in the north of the Iranian capital Tehran, with the Iranian city of Inche-Boroun, on the border with Turkmenistan.

Manufacturing of 2,000 passenger wagons for the country’s subways and also the construction of a railway between the southeastern provinces of Sistan-Baluchestan and the eastern province of South Khorasan are also among the mentioned projects.

Back in November 2019, Iranian Energy Minister Reza Ardakanian and his Russian counterpart Alexander Novak met in Moscow and stressed the expansion of ties in all areas.

In the meeting, the two sides followed up on the agreements made in different fields of energy, industry, agriculture, and banking during the 15th Iran-Russia Joint Economic Committee meeting.

Iran and Russia signed eight memorandums of understanding (MOUs) in the 15th Iran-Russia Joint Economic Committee meeting which was wrapped up on June 17, 2019, in Isfahan.