"The volume of trade transactions between Iran and Russia is slated to reach $10 billion within three years," Sanayee said in Moscow on Wednesday.
He noted that the two countries' trade revenues increased by 80 percent and amounted to above $2 billion.
"The growth in Iran's trade relations with Russia was the biggest last year in comparison with any other country," Sanayee said.
In a relevant development in early February, Sanayee voiced his satisfaction in the economic relations and the level of trade transactions between Iran and Russia.
"The level of Iran-Russia trade exchanges has witnessed growth over past two years," Sanayee said.
He reiterated that according to the statistics the value of economic exchanges between Iran and Russia in the first nine months of 2016 has increased by 80 percent as compared with last year's corresponding period which is quite satisfactory.
"Different areas such as transport, specially railway, oil and gas industry, mining, thermo and nuclear power plants, aerospace, agriculture and fishery are appropriate grounds for boosting economic cooperation between the two countries," Sanayee added.
In mid-December, Tehran and Moscow signed a sum of nine memoranda of understanding (MoUs) in different economic fields.
The cooperation pacts were signed between Iranian Communications and Information Technology Minister Mahmoud Vaezi and Russian Energy Minister Alexander Novak within the framework of Joint Iran-Russia Economic Cooperation Commission in Tehran.
The cooperation pacts covered vast areas from insurance to energy, from industry to commerce.
Several MoUs were signed between Joint Business Councils and Chambers of Commerce of Iran and Russia as well as one which aimed to finance Iran’s thermal power plant projects.
