IRNA - Iran's Minister of Energy Reza Ardakanian who heads Iran-Russia Joint Economic Commission meeting is to leave Tehran for Moscow on Sunday afternoon.

Foreign Minister Mohammad Javad Zarif is to accompany the energy minister during the visit.

During the visit, Ardakanian is to confer with Russian Energy Minister Alexander Novak to examine the latest status of bilateral projects and agreements signed at the 5th meeting of the two countries' Joint Economic and Trade Commission.

In the last few days, a formal Memorandum of Understanding (MoU) was signed between Iran and the Secretary-General of the Eurasian Economic Union to speed up the Interim Free Trade Agreement between Iran and Eurasia to help implement the jointly run project on October 26.

To this end, Iran's Minister of Energy will also meet with the Secretary General of the union during this visit to discuss the latest status of cooperation between the two sides.

Following Iran's accession to the Union, 846 commodities of both sides will be subject to Preferential Trade Agreement (PTA), 503 of which owned by Iran and 70 items of Iranian goods enjoy zero tariffs.

For the first time since the victory of the Islamic Revolution, Iran has been actively involved in a regional economic agreement that allows it to enter the Union's markets from the land borders of the Republic of Armenia and the maritime borders with Russia and Kazakhstan.

The minister of energy had previously said that through Iran's joining the Eurasian Economic Union, a large market awaits our country, and there will be a big leap in the export of non-oil commodities, as the total value of exports and imports of the member states is about $735 billion.

Ardakanian expressed hope that Iran’s joining the Eurasian Economic Union would be a very effective way to develop economic and regional relations creating many job opportunities in different sectors for our country.

Ardakanian had said on July 2 that Iran's principled policy is based on broadening expansion of relations and cooperation with the countries in the region as well as in the globe.

Ardakanian made the remarks in a meeting with visiting Armenian Deputy Prime Minister Mher Grigoryan in Tehran in the 16th Iran-Armenia Joint Economic Commission meeting which was held at the ministry of energy.

Economic and commercial potential between Iran and Armenia are very high and the two sides' should take advantage of the existing opportunity to further expand economic cooperation in line with both sides' interests, Ardakanian said.

Good relations between the Islamic Republic of Iran and Armenia will lead to more convergence among countries in the region, said the Iranian minister.