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Russian, Iranian leaders discuss economic cooperation, regional security

The Moscow-led Eurasian Economic Union and Iran signed a temporary agreement on a free trade zone in May 2018

TEHRAN, September 17. /TASS/. The presidents of Russia and Iran, Vladimir Putin and Hassan Rouhani, held a bilateral meeting in Ankara on Monday ahead of the trilateral summit on Syria, the Iranian president’s official website said.

"In addition to political and economic relations, Iran and Russia have good ties in defense and nuclear cooperation," Rouhani was quoted as saying. "With the political will of the two governments, the relations between Iran and Russia are now closer and more sincere than ever before."

The Iranian president went on to say that Iran's cooperation with the Eurasian Economic Union would provide a good opportunity for the development of bilateral economic cooperation in various economic fields.

"The construction of the Sirik Power Plant and the Incheboron-Garmsar railroad's electrification has become a yet another symbol of the new chapter in cooperation between the two countries," he said.

The Eurasian Economic Union and Iran signed a temporary agreement on a free trade zone in May 2018, which is aimed at boosting trade between the countries by simplifying customs procedures. The draft has already been approved by the Iranian parliament (Majlis). On July 8, 2019 Iranian President Hassan Rouhani ordered the Ministry of Industry, Mine and Trade to start fulfilling the deal.

During his September 4 meeting with Russian Energy Minister Alexander Novak, Iranian Energy Minister Reza Ardakanian signed an additional agreement to the Sirik Power Plant project deal, which will be implemented as part of Russia’s export state credit for $1.2 billion. Work on the project is expected to begin by the end of the year.

At present, Russia’s rail monopoly RZD and Iranian railways are partners in the Incheboron-Garmsar railroad's electrification project, estimated at 1.2 billion euro.

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