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Iran ready to increase trade with Russia to $2b

Tabriz, East Azarbaijan, May 26, IRNA - Deputy Minister of Industries and Mines for Economic and International Affairs Mohsen Shaterzadeh said on Saturday that Iran is ready to increase trade with Russia to two billion dollars per year.

He made the remarks in a meeting with the Prime Minister of Tatarstan Rustam Minnikhanov in the presence of the officials of East Azarbaijan.

Pointing to the dlrs 12.5 billion of foreign investments in Iran last year, the deputy minister said that Russia, unfortunately, had a weak share in this respect.

"Given Russia welcomes bilateral investments in economic and industrial sectors, Iran is ready to expand cooperation in the fields," he said.

He said that Iran has given priority to Muslim investors of Tatarstan in Iran, he said that the Islamic Republic guarantees the investments of Tatar investors including Kamaz factory.

He said that Iran and Russia are the two economic and industrial powers in the region, and that the situation underlines the need for expanding bilateral ties in the field of industry and economy.

The deputy minister referred to the East Azarbaijan as one of large sources of wealth, expertise and capital in Iran, adding, "We are keen on expanding the international relations of the province in industrial and economic sectors." He said that the Islamic Republic is more capable than ever in the field of industry, and that there are more than 78,000 active industrial units, and other 68,000 units are under construction nationwide.

Iran has updated its knowledge in particular in nano technology and is to establish an international center of nano technology in cooperation with the United Nations, he added.

He assessed the worth of industrial projects of Iran underway in foreign countries at dlrs 20 billion, noting that the country has established numerous companies in Latin American states including Venezuela, Cuba and Uruguay.

Touching on commissioning the assembly line of Samand Sedan in four continents, he said the products of Iran Khodro Company (IKCO) are being exported to 29 countries.

The prime minister of Tatarstan, heading a high-ranking delegation, arrived in Tabriz on Saturday morning to take part in the inaugural ceremony of Raksh Khodro Diesel Company in Tabriz foreign investment town.

... Payvand News - 5/27/07 ...

... Payvand News - 5/27/07 ... --

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