Tehran, June 18 (MRUD NEWS)—Upon the visit of the high-level Iranian delegation from Trade Promotion Organization (TPO) to Russia to attend the 25th Saint Petersburg International Economic Forum (SPIEF), the Iranian delegation visited the Baltic Shipyard in Saint Petersburg in order to assess shipyard capabilities of Russia.

"We presented a number of projects to the guests in the area of civilian shipbuilding and oil and gas structures that could become the foundation for mutually beneficial cooperation between our two countries. In addition, the Iranian side showed interest in innovative technologies in the area of shipbuilding developed by USC Group design bureaus," the Russian company said citing from Interfax. 

During the visit, the two sides reached a preliminary agreement for the joint building of ship. 

The agreement seems to facilitate joint cooperation along the International North-South Transport Corridor (INSTC) and in the Caspian Sea.

As per the preliminary agreement, Russia is to help Iran in the manufacturing of ship and supply the ships needed by Iran. 

The two sides also agreed on the production of main ship parts in Iran and shipping them to Russia. 

In the meeting, the two sides stressed the need to expand economic relations between the two countries, the TPO website reported.

The 25th St. Petersburg International Economic Forum opened on June 15 under the theme of New Opportunities in a New World attended.