TEHRAN – Iran signed a memorandum of understanding (MOU) with Turkey and Qatar aimed at boosting trilateral transport and reducing related costs, IRIB news reported.

The MOU was signed by Iranian Industry, Mining and Trade Minister Mohammad Shariatmadari, Turkish Minister of Economy Nihat Zeybekci and Qatari Minister of Economy and Commerce Sheikh Ahmad Bin Jassim Bin Mohammed Al Thani in Tehran on Sunday.

The parties also decided to form a joint working group which is tasked with holding meetings three times a year and taking steps to facilitate trade and transport ties as per the agreement.

According to the officials, the agreement will pave the way for expanding economic cooperation among the three countries and will also facilitate the transit of Iranian and Turkish goods to Qatar.

The MOU signing comes at the a time when Saudi Arabia, Bahrain and the United Arab Emirates, plus Egypt and Yemen have cut all ties with Qatar, accusing it of supporting extremism.

Transit of goods via Iran rose 27 percent during the first six months of the current Iranian calendar year (March 21-September 22) compared to the same period of time in the past year, according to a transport official.

EF/MG