IDRO signs MOU with Russia’s RTEDC to expand industrial cooperation
The Industrial Development and Renovation Organization of Iran (IDRO) and the Russian Trade and Economic Development Council (RTEDC) signed a memorandum of understanding (MOU) to expand cooperation in the areas of oil, gas, rail, and air industries.
On the sidelines of the signing ceremony, the chairman of the board of directors of IDRO said that IDRO can be the gateway for Russian companies to enter into the Iranian market. Mansour Moazzami went on to say that fortunately after the implementation of the nuclear deal, also called BARJAM, ample opportunities have been provided for Iran and Russia and it is expected that the previously signed agreement to came into effect.
He added that relations between Iran and Russia are strategic and long-term. “We are here to facilitate bilateral ties and provide the ground for companies from the two sides to expand transactions.”
The chairman of the board of directors of IDRO pointed out that after BARJAM, IDRO has played host to the most famous international companies and the organization has signed several MOUs and contracts with them. “We are delighted to see that international relations have been established to such a great extent in the organization, so that the organization is now active in all sectors of the industry, including large industries and strategic industries.”
“Recently, the Russian government has provided appropriate financial, finance and visa facilities for Iran. This is a good opportunity for Russian and Iranian companies to bolster bilateral ties,” he explained.
Moazzami who doubles as the deputy minister of industry, mine, and trade, referred to the imbalanced trade between Iran and Russia, saying that Iranian companies should take advantage of the opportunities and become ready to enter into the Russia market.
The duration of the contracts is two years, he said, adding that there are some problems in the financial and banking sectors. The most important issue is that companies of the two sides are not fully aware of other other’s potentials because they are not well familiar with each other. These memorandums of understanding can pave the way for the two sides to become acquainted with their potentials, he noted.
The chairman of the board of directors of IDRO emphasized that the Iranian market is open to all international companies who are interested in investing in the country. The presence of Russian companies in Iran is also dependent on launching joint ventures, he said.
Moazzami added that the scope of activity of the memorandums of understanding is broad and is mostly dependent on interests and capabilities of the two sides. The Russian Trade and Economic Development Council is one of the economic entities in Russia which runs more than 10 thousand economic companies in the country.