Iran, Russia hold major trade conference

Representatives from Iranian and Russian companies took part in the conference in Moscow on Thursday.

Representatives of 70 Iranian companies and 300 Russian firms in 9 different sectors, including industry, technology, petrochemicals, medicine and food industry held face-to-face business meetings and engaged in negotiations.

Economic and trade ties between Tehran and Moscow have been expanding, with both sides saying they want to boost the volume of annual trade exchanges from the current 4 billion to 10 billion dollars in the short term.

Tehran and Moscow are working on a 20-year agreement on comprehensive cooperation.

The two neighbors have been targeted by waves of Western sanctions and seek to cushion the impact of sanctions through expansion of economic ties with regional countries.