Presstv.com Iran’s
Minister of Communication and IT Mahmoud Vaezi is heading to Moscow on
Tuesday with a delegation of 70 traders as the two major allies
fast-track their expansion of ties in time for the lifting of
sanctions. . Several key issues are to be discussed,
including Russia’s plans to open a $5 billion credit line for Iran, the
idea of establishing a joint bank and Iran’s membership in the Eurasian
Development Bank. . “Relations between Iran and Russia have entered a
new phase in all aspects. In our visit, we will negotiate with the
Russians about diverse issues,” Vaezi told reporters in Tehran on the
eve of the visit. . Oil, gas and petrochemicals as well as
construction of power plants and railways are some of the areas reserved
for discussion, he said. . Vazei and Russian Energy Minister
Alexander Novak are to chair a meeting of a joint economic commission to
discuss “comprehensive packages for expansion of ties in various fields
and make necessary decisions”, the IRNA news agency said. . The Iranian minister is tagged along by representatives of leading state and private organizations. . “Given
the current situation, Iran-Russia relations have undergone a new
change from political, cultural, security and international perspective
and we hope to be able to expand our economic and industrial ties in
pace with them,” Vaezi said. . The visit follows Novak’s trip to Tehran last month with a large delegation of representatives from 50 Russian companies. . Novak
announced Russia’s plan to open a $5 billion credit line for
infrastructure projects in Iran, including electrifying a train line
connecting north central Iran to the northeastern border with
Turkmenistan at a cost of $1.2 billion. The minister called Iran as Russia's
"most important economic and trade partner", saying bilateral trade
stands at “more than $1 billion which is not enough" and has to be
raised. . Novak said Tehran and Moscow have devised a package of projects that are collectively worth $35 billion to $40 billion. . In
his visit, the two countries discussed expanding trade in oil, gas,
electricity, transport, and telecommunications as well as defense
cooperation. . Russia has acted quickly to cement ties with Iran after the international nuclear accord reached with Islamic Republic in July. . Moscow
has indicated to allow Iran into the Eurasian economic, political and
military bloc, the Shanghai Cooperation Organization (SCO), after
sanctions are lifted on Tehran. . The two countries are also working to create a joint bank and carry out their transactions in local currencies. . Iran
is also interested in joining the Eurasian Development Bank (EDB),
founded in 2006 by intergovernmental agreements between Russia and
Kazakhstan.
