The Russian Agency for Export Credit and Investment Insurance (Exiar) and the Railways of Islamic Republic of Iran (Rai) have signed a memorandum of understanding (MoU) to reinforce co-operation and support for trade between Russia and Iran.

Exiar and Rai have agreed to establish a comprehensive framework for further enhancement of co-operation between Russian companies and Iranian companies working on Iranian fleet development. The MoU represents a first step in facilitating the trade flow in the railway industry between Russia and Iran.
“We focus on Iran as a long-term partner and a market with high potentials. We are adamant in our approach that the conditions we provide should yield benefits for both sides and foster stronger trade relations between Russian and Iranian companies,” says Exiar’s managing director of international business development, Hanieh Ferdowsi. “In doing so, we have made significant groundwork for both financial and non-financial support that can hopefully smoothen and facilitate the execution and closing of underlying projects.”

Closer collaboration between the countries is expected to not only relate to projects in Iran, but also joint Iranian-Russian projects in third countries.