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Iranian Energy Minister Reza Ardakanian and his Russian counterpart Alexander Novak in a meeting in Moscow exchanged views on economic cooperation. specially in the field of energy and renewable energies.
During the meeting in the Russian capital on Thursday. the Iranian and Russian ministers discussed agreements reached at the 15th Iran-Russia Joint Economic Commission in the fields of agriculture. banking. energy. industry. and technology.
Ardakanian’s visit to Russia was aimed at operationalizing a $5 billion credit line for infrastructure projects.
The idea for Russia to provide the loan to Iran was first conceived in 2015. but the final documents were signed only in September this year.
The majority of the loan will reportedly be used for conducting several joint power plant projects in Iran. Part of it will also be used to finance building 2.000 train carriages for use in inner-city transportation as well as building a railway between Zahedan in the southeast to Birjand in Northeastern Iran.
Delegates from Iran’s ministry of finance. the central bank. ministry of industry. mine and trade and the ministries of transportation and energy were accompanying the energy minister during his talks.
In a relevant development earlier in November. Novak told Ardakanian that bilateral trade had been boosted by 25.8 percent.
Ardakanian and Novak. who jointly chair Iran-Russia Joint Economic and Trade Cooperation. held phone talks regarding the development of economic cooperation and investment to confer on a wide spectrum of issues ranging from trade. business and economic cooperation to investment.
During the conversation. the Russian minister said that the volume of trade transactions between Iran and Russia hit $1.470 billion from January to August 2019. showing a 25.8 percent hike as compared to the same period of last year.
Cooperation of the two countries is considerable within the framework of joint commission in the growth and development of trade exchanges between Iran and Russia. Novak added.
“We believe that intensive cooperation should be developed between the two countries with the aim of strengthening bilateral relations.“ he added.
Moreover. Ardakanian and Novak exchanged views concerning the bilateral cooperation in energy. transport and industrial fields.
