President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) said that Iran and Russia have targeted an annual trade of $40 billion which he believed is achievable considering the potential of both countries.
Gholam Hossein Shafei, who is in Kazan to attend a Russia-Islamic World Forum, made the remarks in a press conference held on the sidelines of the event.
Noting that Iran and Russia have valuable experiences in different fields, he underlined the need for joint investments in oil and gas and auto industries.
Shafei said that Iran and Russia have made great achievements in the auto industry compared to other regional countries and can cooperate with each other in this field.
He also said that agricultural equipment is another field for cooperation between Tehran and Moscow.
“Iran and Russia are two oil and gas rich countries but in the case of renewable energies, both countries have good capacities that should be paid attention to,” the Iran Chamber of Commerce president said.
Shafei underlined the significance of the International North-South Transit Corridor (INSTC) which he said can be seen as another area on which the two countries can further cooperate.
Also speaking in another press conference in Kazan on Thursday, Shafei said that engagements between Iran and Russia within the framework of the Eurasian Economic Union (EAEU) are turning to free trade.
He added that the membership of both countries in Shanghai Cooperation Organization (SCO) which holds a large part of the world trade is another issue that can lead to the enhancement of bilateral relations of both countries.
The governments have to prepare the ground while the main role has to be played by the private sectors, Shafei said, adding that the private sector actors want nothing more from the governments.