President of the Chamber of Commerce and Industry of the Russian Federation Sergey Katyrin said on Tuesday that Iran and Russia have made the necessary planning for reaching a target $40 billion bilateral trade and economic activists from both sides are waiting for the execution of a free trade agreement.
Katyrin made the remarks addressing an Iran-Russia business forum which opened in Espinas Palace Hotel of Tehran earlier today.
He said that more than 100 Russian entrepreneurs from different provinces are visiting Tehran today and Moscow is ready to help further boost provincial relations with Iran.
The President of the Russian Chamber of Commerce and Industry said that the visit to Tehran by this major delegation is an indication that expansion of ties with Iran is of special importance for Russia.
The Russian market is open to friendly countries such as Iran, he said, adding that Iranian companies can be a good alternative for some Western countries which have withdrawn from the Russian market.
He underlined the significance of a strategically important International North-South Transit Corridor (INSTC), calling on both Iran and Russia to make every effort to launch the project.
A major Russian trade delegation, headed by President of Chamber of Commerce and Industry of the Russian Federation Sergey Katyrin, arrived in Tehran on Monday.
Besides Tehran, the Russian 120-member delegation also has plans to visit other Iranian cities of Rasht, Anzali and Isfahan.
The Russian delegation will be comprised of businesspersons in different areas, including transportation, food, constructional materials, petrochemical and oil products, international arbitration, and so on.
Iran and Russian traded as much as $4.63 billion worth of commodities over the Iranian last calendar year to March 20, according to an April report by Iran Customs Administration (IRICA).
The two countries plan to increase bilateral trade by nearly 10 times to $40 billion.