Russian minister discusses transshipment of Russian cargo at Iranian ports in Caspian Sea, Persian Gulf with Central Bank of Iran head

MOSCOW. July 8 (Interfax) - Russian Economic Development Minister Maxim Reshetnikov has held a meeting with Central Bank of Iran Governor Ali Salehabadi, at which the importance of further development of cooperation in the financial and banking sphere and in transport and logistics was emphasized, the Russian Economic Development Ministry said in a statement released following the talks on July 7.

"Russia and Iran assign particular priority to implementing joint investment projects, including in the sphere of port infrastructure development for a fully-fledged launch of the International North-South Transport Corridor. Interest in developing logistics centers and services for transshipment of Russian cargo at Iranian ports in the Caspian Sea and the Persian Gulf was emphasized, in particular," the statement said.

"A memorandum prepared by the Economic Development Ministry jointly with interested agencies and organizations on developing long-term cooperation between Russia and Iran in the trade and economic sphere would facilitate realization of the present trade potential, as would a free trade agreement between the Eurasian Economic Union and Iran," it said.

"A temporary agreement is currently in place leading to the formation of a free trade zone, and completion of domestic procedures to ratify a protocol to extend it is expected in Russia in the near future," the statement said.

"The conclusion of a permanent agreement on a free trade zone between the Eurasian Economic Union and Iran will allow for deregulation of 80% of trading volume and goods," it said.