KUALA LUMPUR (IRNA) -- Iran's Ambassador to Thailand Mohsen Pak-Ayeen conferred on Saturday with Thai Deputy Prime Minister and Minister of Industries Kosit Panpiemras on expansion of economic cooperation between the two countries.

At the meeting, the Thai minister underlined that expansion of cooperation with the Islamic Republic of Iran in light and medium sized industries and said this would lead to economic growth in both countries.

Implementation of jointly run projects in production of automobile and motor cycle parts is among the most lucrative business opportunities for both sides.

He voiced readiness of Thai private sector for expansion of cooperation with Iranian auto makers.

Underlining the need to bolster the two sides' private sectors, he said the Thai industrial council which covers hundreds of private companies welcomes implementation of joint projects with Iran.

Voicing willingness to pay an official visit to Iran, he said signing of an MOU on mutual cooperation could leave positive impacts on expansion of industrial cooperation between the two countries.

The Iranian ambassador, on his part, referred to holding the 8th Iran-Thailand Joint Economic Commission meeting slated for 2007 in Thailand and expressed the hope that the event would lead to further consolidation of industrial cooperation between the two sides.

The two sides' private sectors are willing to broaden scope of activities in handicraft industries as well as precious stones, he said.

The Iranian envoy also called for exchange of economic delegations between the two countries to explore new avenues for mutual cooperation.

Thai bank for expansion of commercial ties with Iran

The Export-Import Bank of Thailand (Exim) voiced readiness to support expansion of commercial ties with Iran.

Executive Director and Secretary of Exim Bank Boontherawa Apichai met with Pak-Ayeen in Bangkok on Friday.

Thailand's Exim Bank is ready to provide necessary facilities to Iranian and Thai businessmen to bolster their economic cooperation, Apichai said.

He welcomed exchange of expert delegations between his bank and the Export Development Bank of Iran (EDBI), saying the delegations would examine possibilities for providing more banking facilities to the two countries' private sector to boost commercial exchanges.

Pak Ayeen, for his part, called for implementation of a memorandum of understanding previously signed between EDBI and Exim Bank to boost trade exchanges.

He expressed Tehran's readiness to facilitate issuance of visas for Thai businessmen.