Industrial Development and Renovation Organization of Iran (IDRO) and Transmashholding signed an agreement to build railway wagons in Iran. According to the document, Russia will finance the wagon production in Iran.
Both sides will cooperate in manufacturing passenger and cargo wagons.
The agreement was signed in Moscow, during Iran’s President Hassan Rouhani official visit in Russia. In a meeting with Russia’s President Vladimir Putin, Rouhani discussed developing the North-South transport corridor, privileges and preferences that have emerged along the way in trade between our two countries for our entrepreneurs, as well as the efforts undertaken by Iran, Russia and Azerbaijan.
The two leaders discussed prospects for expanding trade, economic and investment ties, including in the context of implementing major joint projects in energy and transport infrastructure.
The two countries signed 14 cooperation agreements, including documents on cooperation in railway transport, oil and gas, information technologies and communications, nuclear energy, construction, sport, tourism and the legal sphere.
The trade between Russia and Iran grew by more than 70 percent in 2016, a “truly good result, since we managed to achieve it amid an unstable global economy and persisting volatility on the commodity and currency markets”, Putin said.
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