TEHRAN – The chairmen of Iranian and Russian chambers of commerce and industry held talks in Moscow on Monday to expand bilateral trade and regional economic cooperation.

Iranian Chamber of Commerce, Industries and Mines Chairman Mohammad Nahavandian in his meet with Russian Chamber of Commerce and Industry Chairman Yevgeny Primakov said potentials of the two countries in different fields, particularly in energy sector, can bring them high profits in joint ventures.
The Russian officials pointed out to the damages of the global financial crisis on the country's economy and said the issue has also negatively affected the Iran-Russia annual trade. In 2008, the trade turnover totaled $3.7 billion.
Russia and Iran together represent the first and second in the world in natural gas reserves and second and fourth in oil production, which has encouraged the two to pursue economic partnerships involving the refining and export of oil and gas.
Beyond the developing “gas troika” with Qatar, Iran and Russia have also cooperated for many years in exploiting the reserves in the Caspian Sea.
In addition to their trade and cooperation in hydrocarbons, Iran and Russia have also expanded trade ties in many non-energy sectors of the economy, including a large agriculture agreement in January 2009 and a telecommunications contract in December 2008.
In December 2009, Iranian Foreign Minister, Manouchehr Mottaki and Russian Energy Minister, Sergei Shmatko signed four cooperation deals at the end of the eighth meeting of their joint economic commission in Tehran.
Shmatko also met with Iranian Oil Minister Masoud Mirkazemi and the two ministers agreed to establish a joint investment company in order to facilitate the cooperation in the energy field