TEHRAN – The 19th session of the Iran–Russia Joint Economic Committee meeting will be held in Tehran in mid-February, reflecting expanding cooperation prospects between the two countries, Iran’s deputy oil minister for international and commercial affairs said.

Seyed Ali-Mohammad Mousavi said the meeting will take place from Feb. 15 to 17 and will be co-chaired by Iran’s Oil Minister Mohsen Paknejad and Russia’s Energy Minister Sergey Tsivilev, who head the joint committee. 

He said a broad range of issues will be discussed, including completion of the International North–South Transit Corridor (INSTC), gas transfer from Russia to Iran, and cooperation in space industries, nuclear energy, trade and economy, finance and banking, customs, industry and mining, agriculture, health, culture and tourism, as well as science and technology.

Mousavi said expert-level meetings will be held on the first two days, with Iranian and Russian specialists working through sectoral groups to address challenges and outline practical ways to expand cooperation. The discussions are expected to produce a roadmap for future collaboration, to be formalized in a memorandum of understanding signed by the commission’s co-chairs.

He said annual trade between Iran and Russia currently stands at about $5 billion, noting that while exchanges are growing, the figure does not reflect the depth of the two countries’ strategic relations and could be significantly higher.

“The outlook for Iran–Russia cooperation is bright and on an upward trajectory,” Mousavi said, adding that the joint commission plays a key role in strengthening bilateral cooperation and advancing shared interests.

He said the meeting would also support implementation of broader agreements, including the comprehensive strategic partnership treaty and the free trade agreement between Iran and the Eurasian Economic Union.

The previous session of the joint economic commission was held in Moscow in late April. According to Iran’s Oil Ministry, 110 of the 193 clauses included in the memorandum signed at that meeting are currently being implemented.

EF/MA