Iran, Russia Sign Agreement to Broaden Infrastructure Cooperation

Iran, Russia Sign Agreement to Broaden Infrastructure Cooperation
Second round of Iran-Russia Joint Economic Commission’s session commenced by signing M.O.U’s for broadening cooperation in oil, gas, power, ICT, transportation, banking and financial investment sectors between Dr. Vaezi and the Russian Energy Minister, and it was decided that these agreements should also be extended to other sectors.

According to ICT’s PR center, in an effort to further develop and strengthen bilateral relations and cooperation between Iran and Russia, and in order to study and discuss infrastructure projects, a high-ranking Russian delegation has arrived in Tehran, led by Alexander Novak, the Energy Minister, on an official invitation by Dr. Vaezi, the head of Iran-Russia Joint Economic Commission; the delegation consist of directors and managers directors of 50 major Russian companies and also the heads of the Russia Central Bank.

The first round of talks of the Joint Commission was held in presence of both ministers in an environment which clearly expresses the determination and understanding manifested in Iran-Russia bilateral relations. The parties studied the list and topics of the projects, and agreed to leave the rest of the discussions to specialized negotiations.

Today, second round of the negotiations was held today and the parties signed an agreement after reviewing the outcomes of the specialized negotiations.

This M.O.U was compiled in seven chapters and signed by both parties.

The first chapter covers the topic of oil and gas cooperation between two countries which was a direct outcome of the Russian delegation’s negotiations with the Iranian Petroleum Minister, and the discussions between Oil Ministry’s affiliate bodies and the Russian companies.

The second chapter highlights cooperation in Power and Water sectors, which covers projects such as connecting the Iranian power grid to Russian Federation via Azerbaijan and Russia, and also construction of Thermal and Hydro-Electric power-plants.

The third chapter studies the transport sector between the two countries and mostly focuses on railway networks;

The fourth chapter deals with the specialized sector of communication and information technology; the parties have agreed to consider various projects in this specialized and highly important field.

Chapter five underscores major banking and monetary issues which results in job creation and business development, facilitating easy commerce between two countries; by this agreement, this sector can also benefit from banking operations of both parties.

Chapter six addresses important issues such as Iran’s membership in Eurasian Bank and also establishment of a Joint Bank with Russia; the last section likewise mentions the subject of the $5 Billion Line of Credit, which can positively impact economic relations and infrastructure projects for both parties.

In chapter seven, in addition to stating that Russian companies’ should offer participation in the listed projects, it was agreed that cooperation will commence and develop in all other fields of mutual interest.

It should be mentioned that in continuation of this meeting, and the signing of the agreement, further discussions took place in regard to studying and finding a solution for issuance of commercial visa for Russian private companies, also adjustment of customs tariffs, and establishment of cargo flights between two countries, and both parties agreed to address and find solution for these issues at the first opportunity.


Nov 14, 2015 11:57


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