Source: Tehran Times
The Export Guarantee Fund of Iran (EFGI) and the Export Insurance Agency of Russia (EXIAR) signed a memorandum of understanding in Tehran on Sunday to boost cooperation.
Iranian Industry, Mining, and Trade Minister Mohammad Reza Nematzadeh and Russian Economic Development Minister Alexei Ulyukayev attended the signing ceremony for the Framework Agreement on Strategic Cooperation.
In April, Iranian Oil Minister Bijan Namdar Zanganeh said the Islamic Republic is determined to raise the volume of its "economic transactions" with Russia through long-term deals.
On August 5, Iran and Russia signed a memorandum of understanding in Moscow, calling for trade and economic cooperation to be expanded over the next five years.
Non-oil trade between Iran and Russia amounted to about $1.1 billion in the previous Iranian calendar year, which ended on March 20, 2014, according to the Iran Customs Administration.
Iran exported $316.5 million of non-oil goods to Russia and imported $758.3 million of non-oil goods from Russia.
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