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Russia and Iran are ready to cooperate in construction of large-capacity vessels at Iranian shipyards

Posted on November 3, 2022

Russia can also invest in Iranian ports

Russia and Iran are ready to develop cooperation in shipbuilding with Iranian shipyards to build ships of large capacity and Russian shipyards to build cargo carriers, says press center of RF Government. Russia also considers investing in seaports of Iran. The Iranian side, in its turn, offers using its seaports as hubs for Russian cargo including transit one.

That was announced by Russian Deputy Prime Minister Alexander Novak at the 16th meeting of Russia-Iran intergovernmental commission on trade and economic cooperation held in Grozny today. Deputy PM Nova also held a meeting with Iranian Oil Minister Javad Ouji.

The parties are also ready to join hands in the segments of oil, gas, atomic industry, renewables, finances, insurance, customs, logistics, transit particularly using infrastructure of the North-South international transport corridor. The work is underway to increase the share of settlements in national currencies. Under discussion is involvement of Russian companies in the projects on construction of solar power plants and in implementation of projects on construction of wind farms in Iran including long-term contracts of up to 20 years.

According to the Deputy Prime Minister, the trade turnover between the countries is growing continuously. It surged by 45% to $2.8 billion in January-June. Alexander Novak  says further growth of the trade between the countries is expected if the current dynamics of cooperation is maintained. The process of establishing EAEU-Iran free trade area is nearing completion.


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