We study the system of two WZNW models coupled to each other via the c
urrent-current interaction. The system is proven to possess the strong
/weak coupling duality symmetry. The strong coupling phase of this the
ory is discussed in detail. It is shown that in this phase the interac
ting WZNW models approach nontrivial conformal points along the renorm
alization group flow. The relation between the principal chiral model
and interacting WZNW models is investigated.