In line with expanding economic, investment, and trade cooperation between the Islamic Republic of Iran and the Russian Federation, a joint cooperation Memorandum of Understanding (MOU) was signed between the Joint Iranian and Foreign Investment Association and the Russia-Iran Business Council.
According to Eurasia24, the objective of this MOU is to strengthen bilateral relations in the fields of investment, trade, technology transfer, development of joint projects, and facilitating communication among economic stakeholders of the two countries.
Under the terms of this MOU, the parties committed to exploring areas of cooperation in sectors such as attracting foreign investment, joint investments in industry, energy, agriculture, transportation, tourism, and other promising areas. They will also define and implement joint projects with a win-win approach.
The signing of this MOU is regarded as an effective step towards strengthening economic and trade relations between Iran and Russia and elevating the level of private sector cooperation between the two countries.