On the Upcoming 4th Meeting of the Russian-Iranian Intergovernmental Commission and a Meeting of the Trade Promotion Working Group in Teheran

The 4th meeting of the Russian-Iranian Intergovernmental Commission and a meeting of the Trade Promotion Working Group (within the Commission) will be held in Teheran on March 16-18.

The co-chairman of the Intergovernmental Commission on the Russian side is Minister of Property Relations of the Russian Federation Farit Gazizullin, and the deputy chairman of the Russian part of the Commission is Deputy Minister of Economic Development and Trade of the Russian Federation Vladimir Karastin.

In the course of the Commission's work it is planned to discuss ways and prospects for the further expansion and diversification of mutual trade, interbank links and insurance business.

For reference:

The 3rd meeting of the Commission took place in Moscow from October 14 to 19, 2000. Over the past two and a half years big work has been done in the implementation of the agreements reached, aiming at the expansion of trade-and-economic cooperation between Russia and Iran. The comprehensive examination of relations between Russia and Iran by the Presidents in March 2001 in Moscow gave a substantial impetus to the whole range of bilateral trade-and-economic partnerships. Over the past period a solid package of intergovernmental and interdepartmental documents has been signed, including:

• the Treaty on Foundations of Relations and Principles of Cooperation Between Russia and Iran (March 12, 2001);
• the Agreement on Cooperation and Mutual Assistance in Customs Matters (May 30, 2001);
• the Double Taxation Avoidance Agreement (entered into force on March 5, 2002); and
• the Agreement on the North-South International Transport Corridor Between Russia, India and Iran (entered into force on May 16, 2002).

The Draft Agreement on the Encouragement and Reciprocal Protection of Investment, approved by the Government of the Russian Federation in June 2001, is presently under consideration by the Iranian side. Currently prepared for signature is the Draft Long-Term Program of Trade and Economic, Industrial and Scientific-Technical Cooperation Between the Russian Federation and the Islamic Republic of Iran for the Period till 2012. The program encompasses cooperation in such key areas as the fuel and energy sector, electric power generation, nuclear energy, industry, transport, communications, banking and insurance, public health, medical science and education. Its implementation will help reach a qualitatively new level of cooperation with Iran. In May 2001 a meeting of the Russian-Iranian Trade Promotion Working Group was held in Moscow within the framework of the Intergovernmental Commission.

Dynamics of Bilateral Trade Between Russia and Iran

(in million US dollars)