Domestic Economy

Russian Showtime: Tehran Exhibition in Full Swing

Russian Showtime: Tehran Exhibition in Full SwingRussian Showtime: Tehran Exhibition in Full Swing

Iran and Russia are taking the first steps to boost bilateral trade ties to reach the $40 billion annual target set in the last meeting of their joint commission held in November.

To that end, Moscow has organized an exhibition titled “Russia-Iran Trade and Industrial Dialogue”, which opened at Tehran’s International Fairground on Monday and will run through December 23.

Russia’s Minister of Industries and Trade Denis Manturov, earlier referred to the event as “a major step toward expansion of the two countries’ economic ties, which prepares the ground for [Russian companies’] cooperation with Iranian business”.

“More than 50 Russian companies active in industries, energy and technologies are participating in the event,” he was quoted as saying by IRNA on Monday.

The Russian minister, heading a trade delegation of more than 100 top managers from Russia’s major industrial firms and banks along with some of the country’s officials, arrived in Tehran on Monday to attend the exhibition and its side events organized to introduce Russian companies’ industrial and technological capabilities to the Iranian market.

Aviation, shipbuilding, rail industry, auto, energy, agriculture, steel industry and pharmaceuticals are among the industries Russia has introduced in the exhibition.

“Some Russian auto companies will hold talks to establish manufacturing lines in Iran. Several auto projects are under study and we hope to reach agreements in Iran for their implementation,” said Manturov.

Russian auto giant Gas Group and truck manufacturer Kamaz Inc., according to Manturov, are ready to start joint ventures with Iranian companies to establish auto assembly plants in Iran.

Another potential field of cooperation, he said, is establishment of a joint train car assembly line with the Russian Uralvagonzavod.

Last month, UVZ participated in a tender floated by Iran’s National Railway Company for procurement of 4,000 freight cars.

According to Manturov, as many as 10 models of those cars have been designed at the request of Iran and prototypes of some models are currently being built and some others are being showcased in Tehran’s exhibition.

He also referred to plane manufacturing as another possible area of cooperation, as Iranians “have shown interest in the acquisition of Sukhoi Superjet 100 aircraft” they need over the next five years.

In case Iran decides to purchase the Russian aircraft, he added that Russia “is ready to negotiate indigenization of the manufacture of the plane’s parts and equipment”.

Sukhoi SuperJet 100 passenger and business jets are on display at the exhibition among other Russian products, including the newest composite technologies, civil radars, combine harvesters, industrial loaders, electrical and lighting equipment and automobiles.

Yury Slyusar, president of United Aircraft Corporation, which is the manufacturer of Sukhoi airplanes, is one of the speakers at a conference held on the sidelines of the exhibition.

Other keynote speakers include Iran’s Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh, Iran’s Vice President for Science and Technology Sorena Sattari and Alexey Tyupanov, general manager of Exiar, export support agency of Russia.

“The event can lay a solid foundation for all-out cooperation between Iran and Russia whose economic ties have not kept pace with their close political relations,” said Manturov.

Meanwhile, Russia is taking steps to ease shipment of Iranian products to the country. Russia’s Economy Minister Alexei Ulyukayev last week said the country may cut or cancel import duties on agricultural products, mainly vegetables and fruits, from Iran.