Iran-Russia Joint Economic Commission to Meet in Moscow

Masoud Karbasian is due in Moscow on March 4, 2018, heading a 90-strong delegation to attend a meeting of the 14th Iran-Russia Joint Economic and Trade Cooperation Commission.

According to a Farsi report by IRIB News Agency, the commission will meet on March 5-6, and several memoranda of understanding on cooperation with Russia will be signed on the sidelines of the event.

Karbasian, the Iranian co-chair of the commission, and Russian Energy Minister Alexander Novak will, within the framework of several working groups and expert meetings, discuss the current and future economic, trade and investment projects in the fields of energy, transportation, road construction, commerce, customs, health and agriculture.

Moreover, meetings will be held on the fringes of the event with officials of the Russian Federation, namely the country’s prime minister, ministers of energy and economic development, the Russian president’s special representative for Caspian Sea affairs and the minister for North Caucasus affairs.

The two-day event will also feature a meeting of businesspeople and tradesmen from both countries’ private sectors scheduled to be held at the Russian Chamber of Commerce.

The 14 committees of the commission are also scheduled to finalize 14 memoranda of understanding on cooperation in the fields of electricity, nuclear energy, cultural exchanges, transportation, sports and the youth, higher education, the Eurasian Economic Union, industry and trade, customs, health and treatment, banking transactions and media.

Iran-Russia trade, economic, political, scientific and educational relations have been growing in recent years.

With the arrangements being made, the legal ground is prepared for the conclusion of agreements and memoranda of understanding between Tehran and Moscow on areas of mutual interest. The public and private sectors of both countries are also establishing links and contacts with each other.

Over the past few years, Russia has made its presence felt in investment projects in Iran, and Russian banks have also made it clear by signing financing agreements that they will fund the projects.