RUSSIA, February 28 - Deputy Prime Minister Alexander Novak co-chaired the 17^th meeting of the Permanent Russia-Iran Commission on Trade and Economic Cooperation in Tehran.

“Russian-Iranian relations grow stronger every year, with bilateral cooperation continuing to expand to new areas. Iran remains Russia’s reliable economic partner. Our countries support each other in matters of international cooperation. Iran, with Russia’s assistance, has become a full member of BRICS. We continue successful work in the OPEC+ format,” Alexander Novak said in his opening remarks.

During the meeting, the parties touched on a wide range of areas in the bilateral partnership, such as healthcare, construction, energy, industry, agriculture, education, science, and sports.

A number of documents were signed within the framework of the intergovernmental commission that will help promote cooperation, increase the volume of bilateral trade, and diversify its structure.

In particular, a Memorandum of Understanding on developing free trade and special economic zones was signed between the Ministry of Economic Development and the Supreme Council for Free Trade, Industrial and Special Economic Zones of the Islamic Republic of Iran. This will open up new prospects for localising production and creating joint ventures.

A roadmap for science and technology cooperation in power generation has been signed. It envisages expanded cooperation between the two countries’ electric power companies in such fields as energy efficiency, digital transformation of electrical grids, and localisation of production of components and equipment for generating facilities. A protocol was also signed, amending the roadmap for science and technology cooperation in the oil and gas industry, which involves expanding practical cooperation between companies in 21 areas, such as standardising equipment, facilitating the digital transformation, and increasing the efficiency of existing production facilities.

The Deputy Prime Minister noted that as a result of close cooperation with the participation of Russian companies, projects on the exploration and extraction of mineral resources and the construction of nuclear power plants (Bushehr Nuclear Power Plant) and transport and logistics infrastructure (Rasht-Astara railway) are being implemented in Iran. Also, on 29 February, a spacecraft manufactured by Russian specialists in cooperation with their Iranian partners will be launched from the Vostochny Space Launch Centre, which will kickstart new joint projects in the space industry. Cultural ties are developing, as well. The Deputy Prime Minister emphasised the fourfold increase in the number of students from Iran studying in Russian universities over the past five years – up to more than 8,300 total – as well as the growing mutual tourist interest between citizens of the two countries.

Alexander Novak invited his Iranian colleagues to take part in the Caucasus Investment Forum, to be held on 28–30 May in Mineralniye Vody, the St Petersburg International Economic Forum, to be held on 5–8 June in St Petersburg, as well as in the Russian Energy Week International Forum, to be held on 26−28 September in Moscow. Also, as part of his working visit to Iran, Alexander Novak met with First Vice President of the Islamic Republic of Iran Mohammad Mokhber.