Iran's visiting Commerce Minister Masoud Mir Kazemi inked several Memoranda of Understanding (MoU) with Belarus officials on commercial, economic and customs cooperation between the two countries, FARS News agency reported.
In a meeting between Mir Kazemi and Belarusian Prime Minister Sergei Sidorsky, the two sides agreed discussing ways for setting up of joint companies for taking part in international bids and establishing bilateral credit lines to pave the way for commercial transactions, monetary and banking exchanges and car tariffs.
The agreements signed at the end of the 9th meeting of Tehran-Minsk joint economic commission in the Belarusian capital on Monday, also included private sectors' activity in both countries and establishment of joint companies for active presence in regional markets.
Also during his tour of the Central Asian country, Kazemi met with Belarusian Industry Minister Anatoliy Rusetskiy, where the two sides agreed to improve commercial ties and private sector cooperation in order to find new markets.
The Iranian private sector is due to build Minsk Commercial Center, based on the agreement that was signed in Mir Kazemi's trip in which he was accompanied by some 70 businessmen and private sector representatives.
Iran and Belarus also are implementing joint ventures worth USD1.5 billion.
"Today the total cost of the projects makes up $1.5 billion. I am speaking about the projects which are currently underway," Belarusian Industry Minister said.
He reminded that the previous session of the commission was held one and a half years ago in Tehran. According to his estimation, since that time trade turnover increased to approximately USD100mln.
"Yet, this is far below the trade volume set forth by the presidents of the two countries," he said.
The minister said he is confident that Iran-Belarus trade can be increased to USD1 billion and that the goal can be met within several years.
The minister is confident that close cooperation in the conditions of global crisis would allow "reaching even greater results".
He also assured representatives of the Iranian delegation that his country's interest in cooperation with Iran is growing with every year.
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