(IRNA) - At the end of the 10th Iran-South Korea Commission meeting in Seoul on Thursday, the two sides called for broadening cooperation in trade, industrial, cultural, tourist and economic fields.
During the joint cooperation commission meetings, a 33-article memorandum of understanding was inked between the delegations of Iran and South Korea which were headed by the Iranian Minister of Industries and Mines Alireza Tahmasbi and South Korean Trade Minister Kim Hyun Chong respectively, reports Trend.
Under the MoU, the two countries agreed to attain a better trade balance and urged the need for more diversity in trade exchanges.
Meanwhile, South Korea called for expanded exchange of oil products.
According to the document, the two countries reached agreement on joint work and investment in production of various goods in Iran and their export to other countries.
Besides, in the agreement, it is hoped that an MoU will soon be inked between the South Korean Trade Organization and Iran's Foreign Investment, Economic and Technical Assistance Organization.
The two sides also reached accord on cooperation between the organizations from both countries involved with small and medium-scale and standard industries.
Broader cooperation in cultural and tourist sectors, exchanges between universities of the two sides and signing customs agreements in the near future were some of the issues on which the two sides also reached agreement during the joint commission meetings.