Iran, Russia to Jointly Build 20 Equipped Vessels

Following a high-profile meeting held between Iranian and Russian presidents and reemphasizing the development of trade ties between the two countries, the two sides agreed on constructing and purchasing a number of 20 equipped general cargo ships.

Earlier on Wednesday, presidents of the two countries in a telephone conversation stressed the need for the expansion of bilateal trade relations and economic cooperation.

Accordingly, a cooperation agreement was signed between Islamic Republic of Iran Shipping Lines (IRISL) and Convergence Club of the International North-South Transport Corridor (INSTC) in Russia, headed by the special aide of Russian president, for building and buying 20 equipped general cargo ships.

In addition, Iranian and Russian shipping officials agreed, in addition to commissioning a joint venture company to buy and build vessel, to embark on transporting goods at North-South and East-West transport corridors from the origin and destination of all Russian ports.

Under the agreement, use of high capacities and potentials of the two sides will be put atop agenda in line with fulfilling a combined transportation.

This agreement was inked on Thursday on the sidelines of an exhibition entitled “Kazan Forum 2023”, which is an exhibition for showcasing halal products and a kind of cooperation between Islamic states, between CEO of Islamic Republic of Iran Shipping Lines (IRISL) and special representative of Russian president and chairman of Convergence Club of the International North-South Transport Corridor (INSTC).