Iran and Pakistan on Thursday signed four Memoranda of Understanding (MoU) to promote cooperation in several fields, IRNA reported.
The MoUs on economic and technical cooperation, electronic, media and Pak-Iran investment company were inked at the conclusion of two day Pakistan-Iran Joint Economic Commission (JEC) meeting in Islamabad.
The JEC meeting also evaluated the progress of the decisions taken in its previous meeting held in Tehran.
Expressing his views at the concluding session of the JEC, Iranian Foreign Minister Ali Akbar Salehi said that Iran and Pakistan are two great nations.
He said that both countries are passing through a transitional period. Salehi called upon both countries to come closer in their bilateral relationship so that the negative impact of other countries on the region can be countered.
'We are committed to go to any length to enhance our bilateral relations,' he said.
Ali Akbar Salehi said that Iran and Pakistan do not need the help of other countries as both countries have the potential to consume their trade between them.
He viwed that the trade volume between Pakistan and Iran can be easily raised to five billion dollars.
Ali Akbar Salehi said Pakistani Prime Minister Yusuf Raza Gilani would be visiting Iran next Monday and that will further cement bilateral ties between the two brotherly Islamic countries.
He expressed sorrow over the floods in Sindh Province. Salehi said that the Interior minister of Iran would be visiting Pakistan next week.
Pakistani Finance Minister Abdul Hafeez Sheikh said that Iran and Pakistan economy should be integrated further. He said Iran-Pakistan relations must be enhanced.
He said that Pakistan has discussed with Iran the import of electricity. The minister opined that both countries can easily increase their trade volume from $1.5 billion to $4.5 billion.
He said that private sectors of Iran and Pakistan should be encouraged and both governments should facilitate exchange of dialogues between the private sectors of two countries.
Abdul Hafeez Sheikh said Iran and Pakistan have to promote rail and road links and there is complete understating between the two countries on this issue.
He said 'time has come to put aspirations of our people into reality.'
Replying to a question regarding difficulties in increasing the trade volume of the two countries Abdul Hafeez Sheikh said that Iran and Pakistan are trying to minimize barriers in the trade and both countries desire to further expand their economic relations.
Responding to the same question, Salehi said that people should make their assessments after some time because both countries are committed to increase their trade volume.
Asked about Iran-Pakistan gas pipeline line project, Salehi said that the project is underway and would be completed by the end of the current year in the Iranian calendar. He said that the project would be ready by 2014.
'It would be eventually a pipeline of peace,' he said.
Sheikh said that Pakistan is committed to pipeline project and that it is already preparing feasibility studies for its portion of the project.
Asked about Chinese investment in Iran, Salehi said that China is very active in Iran and investing in many of Iran's projects.
Asked about Iran's nuclear swap deal, Iranian foreign minister said that as Iran has already produced 20 percent of uranium so the country does not need any fuel swap deal. According to Salehi, enriched uranium would be turned into fuel plates.
Asked about the statement of French President Nicolas Sarkozy against Iran's peaceful nuclear program, Salehi said that Iran can stand the test of time and there is no need to respond to such statements.