TEHRAN- Iran and Syria signed six memorandums of understanding (MOUs) on economic and trade cooperation on Saturday.

The MOUs were inked by Iranian First Vice President Mohammad Mokhber and Syrian Prime Minister Hussein Arnous in a ceremony at the end of the meeting of the two countries’ Joint Economic Committee in Tehran.

As reported, Iran’s ministers of industry, mining and trade, energy, finance and economic affairs, sport and youth, agriculture, oil, and culture, as well as the governor of the Central Bank of Iran (CBI) were present in the signing ceremony of the mentioned MOUs.

Addressing the meeting of the two countries’ Joint Economic Committee, Iran’s Transport and Urban Development Minister Mehrdad Bazrpash, who is the co-chairman of the Iran-Syria Joint Economic Committee has announced that the two sides will soon begin establishing joint insurance and banking institutes as well as free trade zones.

The official expressed satisfaction with the implementation of previous agreements between the two nations.

Syrian Minister of Economy and Foreign Trade Mohammad Samer Khalil, who co-chairs the Iran-Syria Joint Economic Committee, declared both parties’ plans to pursue joint ventures such as setting up free trade zones and joint insurance and banking institutes.

The Syrian official also said the two sides have reached a good consensus regarding the guidelines of the free trade agreement, and the framework of cooperation between central banks, as well as tourism, and transportation sectors.

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Photo: Iranian First Vice President Mohammad Mokhber (R) and Syrian Prime Minister Hussein Arnous ink six economic co-op MOUs in Tehran on Saturday (December 9).