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News

11.04.2016

EXIAR and the Railways of Islamic Republic of Iran signed a Memorandum of Understanding

On April 5, 2016, the Russian Agency for Export Credit and Investment Insurance (EXIAR – a part of the Russian Export Center (REC) Group) and the Railways of Islamic Republic of Iran (RAI) signed a Memorandum of Understanding (Memorandum) with respect to mutual cooperation and joint support for the trade between the Islamic Republic of Iran and the Russian Federation.

The Memorandum was signed during the official visit of EXIAR’s CEO, Mr Alexey Tyupanov and Managing Director of International Business Development, Ms. Hanieh Ferdowsi to Iran. Russia and Iran are strategic partners and during the visit to Iran, EXIAR met with key partners and officials to emphasize on the concrete next steps for closer collaboration between the countries, not only regarding projects in Iran, but also potential joint Iranian-Russian projects in third countries.

Ms. Ferdowsi comments that “as part of our international cooperation, and as an overall international strategy of the REC group, 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. In doing so, we have made significant ground work for both financial and non-financial support that can hopefully smoothen and facilitate the execution and closing of underlying projects”.

The relationship and negotiations between EXIAR and RAI have been very important. Under the signed Memorandum, EXIAR and RAI have agreed to establish a comprehensive framework for further enhancement of cooperation between Russian companies and Iranian companies for the purpose of the Iranian fleet development. This Memorandum will be the first main step in facilitating the trade flow in the railway industry between Russia and Iran.

On behalf of EXIAR the Memorandum was signed by Alexey Tyupanov, CEO of EXIAR, on behalf of RAI – by Babak Ahmadi, Vice President of RAI in fleet Affairs.

The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011. EXIAR's mission is to support Russian hi-tech exports and investments abroad by insuring export credits against commercial and political risks. The Russian Export Center is EXIAR’s sole shareholder. The agency's charter capital is RUB 43.5 billion. The State Specialized Russian Export-Import Bank (Eximbank of Russia) is a subsidiary of EXIAR.

The Railways of Islamic Republic of Iran (RAI) is the national state-owned railway system of Iran. The Raja Passenger Train Company is an associate of the RAI, and manages its passenger trains including international trains between Tehran and Istanbul and Tehran and Damascus. The Railway Transportation Company is an associate of the IR to manage its freight transport. The Iranian Ministry of Roads and Transportation is the state agency that oversees the RAI.