Economy, Domestic Economy

Tehran, Moscow Focus on Bilateral Ties in St. Petersburg

Tehran, Moscow Focus on Bilateral Ties in St. PetersburgTehran, Moscow Focus on Bilateral Ties in St. Petersburg

Iran and Russia surveyed ways of accelerating bilateral economic cooperation in a meeting on Thursday focused on Iran’s return to the global economy following the lifting of western sanctions. Russian Minister of Energy Alexander Novak and Iran’s Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh were keynote speakers at the meeting that took place on the sidelines of St. Petersburg International Economic Forum on Thursday, IRNA reported.  The two sides discussed means of financing joint projects worth $40 billion, which were previously agreed upon at a meeting of Iran-Russia Economic Commission back in November 2015. These projects encompass wide-ranging fields, including fields of industry, energy, power plants, electricity, oil and gas and railroads. Nematzadeh also held a meeting with vice president of Russia’s United Aircraft Building Corporation, Vladislav Masalov, to discuss the possibility of embarking on joint aircraft production. The 20th International Economic Forum in St. Petersburg, Russia’s most significant economic event, kicked off on Thursday and will continue through June 18. It is attended by United Nations Secretary-General Ban Ki-moon, European Commission President Jean-Claude Juncker as well as other prominent political figures and some 800 delegations from 60 countries.