Azernews.Az

By Kamila Aliyeva

Russia and Iran are considering realization of joint projects in the industry sector for a total of $10 billion, Russian Energy Minister Alexander Novak said on March 13 meeting with Iranian Communications Minister Mahmoud Vaezi, RIA Novosti reported.

“We discussed those new documents which are expected to be prepared for signing during the visit of Iranian President Hassan Rouhani to Moscow, and we agreed that approximately more than 10 such contracts will be prepared,” Novak said.

Great prospects in the field of industry exist, since a five-year "roadmap" for cooperation was signed, and now Russian companies and industrial enterprises cooperate with Iranian companies, according to the Energy Minister.

“Wagons are already delivered, we are talking about the supply of Sukhoi Superjet aircraft and other areas of cooperation,” Novak stated.

He also stressed that for the implementation and development of cooperation between countries it is important to create financial and economic conditions in the banking sector.

"Today, our largest banks are operating in Iran, that means the payment and settlement systems have been restored,” he said adding that currently the sides are working on crediting projects as they are looking for sources of financing, because there are lots of projects which cannot be implemented by using only budgetary means.

A meeting of the presidents of Russia and Iran will be held in late March in Moscow. A number of agreements are expected to be signed during the high-level talks in March. Both sides have confirmed the upcoming visit of Rouhani to Russia.

A document on formation of a free trade zone between Iran and the Eurasian Economic Union (EAEU) may be signed during the visit of Iranian president, in addition, the two sides will also consider the issue of oil for goods barter deal.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

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