TEHRAN, Iran, June 17. Iran and Russia have signed a memorandum of understanding to establish the 'Nova-Pars' trade center, Trend reports citing IRNA.
Iran's Deputy Minister of Industries, Mine and Trade Alireza Peyman Pak and Chairman of the Committee for External Relations of St. Petersburg Evgeny Grigoriev signed the MoU on the sidelines of the 25th St. Petersburg International Economic Forum.
The mentioned trade center will help develop bilateral trade between Iran and Russia, as well as facilitate investment in industries and help with transactions.
The launch of the trade center pursues to develop ties in oil and gas sector, manage transportation of engineering products, machine manufacturing, shipbuilding, electronics, design, and construction of energy establishments, agriculture, food industries, medicine, and construction.