Iran-Russia trade target set at $20 billion per year

According to Energy Press, Mustafa Barzegar appeared on the “Salam Khorbnagar” program of Khabar Network this morning (Monday, February 17) and emphasized that the 19th Iran-Russia Joint Commission for Economic Cooperation will be held in Tehran and will last three days.

Stating that the 19th Iran-Russia Joint Commission for Economic Cooperation will begin this morning with the presence of Seyyed Ali Mohammad Mousavi, Director General of International Affairs of the Ministry of Oil and his Russian counterpart as the Secretary of the Joint Commission, he added: “We will have expert meetings during the first two days.”

The Director General for Europe, America and the Commonwealth of Independent States (CIS) of the Ministry of Oil, referring to the fact that the Russian Minister of Energy, as the head of the Russian side of the commission, will arrive in the country today with a high-level delegation and will hold meetings with high-level officials of the country, stated: “On the last day and after the expert meetings, the final document of the meeting will be compiled and signed by the heads of the joint commissions of the two countries.”

Held 2 Commissions in One Year

Barzegar, pointing out that several side documents will also be signed on the sidelines of the commission, continued: The 19th Commission is the second to be held in 1404. The 18th Commission was held in Moscow in May this year, and now, 10 months later, the 19th Commission will be held in Tehran.

He clarified: Given the importance of the areas of cooperation between the two countries and the will of the high officials of Iran and Russia to develop and deepen cooperation in all fields, the desire of the commission heads and the decision-making regarding the formation and capacity-building of new activities, the 19th Commission was held earlier.

The Director General of Europe, America and the Commonwealth of Independent States (CIS) of the Ministry of Oil, emphasizing that 193 clauses were approved by the parties in the 18th Commission, said: Of these 193 clauses, more than 75 percent of the activities have been implemented or are being implemented, and some remaining items also require the approval of laws for implementation.

Significant growth in trade between Iran and Russia in agricultural products

Barzegar stated: One of the most important areas of cooperation between the two countries is in the agricultural sector, which has a high volume of trade. Imports and exports of agricultural products and basic goods between Iran and Russia have grown significantly this year compared to last year.

He referred to the cooperation between the two countries in the field of energy and said: Large Russian companies have invested in seven oil fields in Iran, and now about 6 percent of Iran’s oil production is produced by Russian companies. The outlook is that this figure will reach 12 percent in the future with more investment.

The Director General of Europe, America and the Commonwealth of Independent States (CIS) of the Ministry of Oil considered nuclear energy as the next area of ​​cooperation and continued: In phase one of the Bushehr nuclear power plant, construction and investment have been carried out by Russia, and now we are in the process of implementing the second and third phases.

Barzegar emphasized: According to the new memorandum, $25 billion will be invested in the construction of new small-scale nuclear power plants for electricity production in the Sirak region, of course, considering that about five years have passed since the start of the project, it is necessary for the 19th Commission to decide on the continuation of activities.

Targeting the import of 55 billion cubic meters of gas from Russia

Stating that the next issue is the import of gas from Russia, he said: In the first phase, the volume of gas imports will be 55 billion cubic meters per year, and in the second phase, 55 billion cubic meters will be added to it per year. Also, negotiations are underway to import electricity from Russia through the Republic of Azerbaijan, which will strengthen cooperation.

The Director General of Europe, America and the Commonwealth of Independent States (CIS) of the Ministry of Oil emphasized that other areas such as customs, standards, etc. will also be discussed in this commission, adding: Of course, there are problems and obstacles between the two countries, the most important of which is transportation and transit infrastructure.

Barzegar pointed out the need to complete the North-South Corridor and continued: This corridor is considered one of the important corridors for the development of trade. Currently, the Rasht-Astara railway is 162 km long and is the missing link in this corridor. Of the 162 km, approximately 125 km of land has been acquired, and 40 km of this land has been handed over to the Russians for the construction of the railway.