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`In 2018. bilateral trade exceeded $1.7 billion. and it grew compared to 2017`. Chebotarev said at a joint Iran-Russia economic forum in the Iranian capital city of Tehran today.
The minister said the volume was very modest. adding that Russia and Iran had a `much higher potential` in this field.
According to him. the two sides must do everything possible to achieve a new level in bilateral trade. Sputnik reported.
The two countries maintain close ties in hydrocarbons trade and work jointly on peaceful nuclear power projects in Iran. Earlier this week. Iran moved to create a free trade zone with the Eurasian Economic Union. which Russia is part of.
Chebotarev also said that Russia is interested in establishing an energy corridor with Iran besides developing north-south. as well as east-west transportation corridors.
He went on to say that the Caucasus region is eager to expand ties with Iran in many areas. especially in tourism cooperation.
Last month. Iranian Energy Minister Reza Ardakanian and his Russian counterpart Alexander Novak. in a telephone conversation. examined the latest status of the joint projects of the two countries in areas of energy cooperation.
Iran has the highest number of oil deals with Russia for the development of its oil and gas fields.
Early in May. Iranian and Russian Foreign Ministers Mohammad Javad Zarif and Sergei Lavrov inked a document which eases visa issuance for the two countries` citizens.
The cooperation document was endorsed in a ceremony in Moscow on May 8.
After the ceremony. Lavrov said that the protocol will improve relations between the Iranian and Russian nations. specially the traders.
Tehran and Moscow have in recent years made efforts to further increase their economic and trade cooperation to confront the US sanctions against both nations.
In April. Iranian Ambassador to Russia Mehdi Sanayee and Russian Deputy Industry and Trade Minister Georgy Kalamanov in a meeting in Moscow explored avenues for widening of economic and trade cooperation between the two countries.
The two sides discussed cooperation in the field of auto-manufacturing. railroad and airplane manufacturing as well as issues on joint cooperation commission slated to be held in June.
Iran and Russia have widened ties and cooperation after the US withdrawal from the nuclear deal last year. as they both oppose the US unilateral policies against independent states.
Sanayee said late in February that the volume of trade between Iran and Russia had hit $500 million because of the two sides’ determination to boost interactions. adding that both Tehran and Moscow were after a higher volume of commercial exchanges.
