TEHRAN - Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) hosted an online business forum with the private sector representatives of the Russian Samara region to explore ways of expanding trade between the two sides.

The event has been organized by TCCIMA in collaboration with Russia Export Center (REC), the Chamber of Commerce and Industry of Samara Region, and the Ministry of Economic Development of the Russian Federation, TCCIMA portal announced.

The business forum is the first event held following the signing of a memorandum of understanding (MOU) between TCCIMA and REC for the expansion of trade relations between the two countries.

The event was attended by officials from the two sides including Hesamedin Hallaj, TCCIMA deputy head for the international affairs, and the head of the Russian Embassy’s Trade Representation in Iran Rustam Ziganshin.

Speaking in the meeting, Hallaj underlined the huge economic capacities of the TCCIMA, saying that the members of the TCCIMA account for about 45 percent of the country's Gross Domestic Product (GDP).

TCCIMA is interested in networking through specialized associations of the two sides, he added.

“There are small and medium-sized enterprises (SMEs) that also have sufficient international experience, but due to the problems caused by the U.S. sanctions in recent years, have not been able to enjoy the benefits of establishing normal business relations with their foreign partners, and it is the responsibility of the two sides’ chambers to use their support services to remove these barriers and facilitate international communication between their members,” he stressed.

In the meeting, Iranian traders and businessmen active in the fields of telecommunications, IT, training and technology transfer, oil and gas, agricultural machinery and products, medical equipment and services, and metals also held B2B talks with representatives of 20 companies from the Samara region.

EF/MA