Iranian Commerce Minister Mehdi Ghazanfari and Singapore's Trade and Industry Minister Lim Hung Kiang discussed economic ties in Singapore on Monday.
During the meeting the two ministers underlined the need for expansion of ties as well as exchange of trade delegations and holding joint seminars and gatherings, IRNA News Agency reported on Tuesday.
Referring to Singapore's strategic importance, the Iranian minister voiced Tehran's readiness to utilize that country's useful experiences in various fields.
He called for facilitating joint ventures and underlined the need for removing the existing obstacles in the way of expansion of trade cooperation between the two countries.
Referring to the recent anti-Iran resolution issued by the UN Security Council, he reiterated that the sanctions have no impact on Iran's trade relations with other countries.
For his part, Kiang called for further expansion of Iran-Singapore trade cooperation.
Singapore will continue its amicable ties with Iran, he said, stressing that the imposed sanctions would not affect his government's will to further boost trade ties with Tehran.
The annual trade between Iran and Singapore has been around 2 billion dollars since 2007 with Iran's share from the two-way trade at 1.4 billion dollars.