TEHRAN- Iranian Economy and Finance Minister Ali Tayyebnia and the visiting Luxembourg's Minister of Foreign Affairs Jean Asselborn penned an agreement to support and encourage investments in each other's countries in Tehran on Monday.

As the Iranian Economy Ministry's website, Shada, reported, the agreement seeks to secure the legal rights of both countries’ investors. 

Calling the penned agreement a sign of both countries’ tendency for development of bilateral economic ties, Tayyebnia said that Iranian capital market is also inclined to get connected to financial firms in Luxemburg. 

As he added, in its post-sanction period, Iran has improvement of ties with European countries on its agenda.

The Iranian minister also expressed Iran’s tendency for signing a double taxation avoidance agreement (DTAA) with Luxemburg which can enhance mutual economic ties besides strengthening the banking ties.

Asselborn, for his part, voiced satisfaction about his meeting with Tayyebnia and expressed his country’s tendency for development of air transportation ties with Iran as well as making joint investments.

In November 2015, Asselborn made a trip to Tehran, where he conferred on expansion of mutual banking cooperation with Central Bank of Iran Governor Valiollah Seif. He maintained that exchange of banking delegations between the two countries will lead to the improvement of economic relations.

HJ/MA/MG