Russian-Iranian Business Council Officially Commences Work

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The Russian-Iranian Business Cooperation Council started its work on Wednesday after representatives from both nations signed an official memorandum on its establishment, a Sputnik correspondent reported.

The document was signed by Alexander Shokhin, the president of the Russian Union of Industrialists and Entrepreneurs, and Alireza Peyman-Pak, the Iranian deputy minister of industry, mine and trade.

"During this year, we are seeing a very dynamic development of the Russian-Iranian relations – trade, economic and political. And, of course, the creation of a business cooperation council will help move these meetings ... 'at the table' into a mode of working interaction," Shokhin said before signing the memorandum.

Iran and Russia, which traditionally cooperate in the sphere of agriculture, have recently also stepped up cooperation in the industrial sector, Peyman-Pak said.

"I am sure we are witnessing the formation of new ties in all areas of cooperation," the Iranian minister added.

Peyman-Pak also expressed confidence that the establishment of the Russian-Iranian Business Cooperation Council would promote industry and trade interaction between both countries. In particular, the body will help, if necessary, resolve banking, logistics and customs issues.

The Russian-Iranian Business Cooperation Council is designed to expand and develop business contacts and mutually beneficial cooperation between the two countries, enhance the role of interested representatives of business communities and maintain a constructive dialogue between them. The council will also analyze problems specific to bilateral relations, develop recommendations for removing obstacles and identify opportunities for diversifying Russian-Iranian business cooperation.