TEHRAN – Iran and New Zealand held the 5th meeting of their joint politico-economic committee in Wellington on Wednesday, putting an emphasis on the development of banking relations.

The meeting was co-chaired by Iran’s Deputy Foreign Minister for Asia and Oceania Affairs Ebrahim Rahimpour and New Zealand’s Deputy Foreign Affairs and Trade Secretary for Australia, Europe, Middle East and Africa Jeff Langley, IRNA reported.

The Iranian deputy foreign minister also held separate meetings with New Zealand’s Minister of Trade Todd McClay and banking officials to explore ways to expand economic ties.

The trade value between the two countries, which plummeted to $90 million in 2015, currently stands at $200 million.

According to the released data, from July 2015 to the same month in 2016, Iran-New Zealand trade value witnessed an upward trend and reached $174 million. The figure is reportedly ever-increasing.

Rahimpour departed Sydney of Australia for Wellington in New Zealand on Tuesday.

He started his regional Asian-Pacific tour from Kazakhstan, where he attended the 15th prime ministers meeting of the Shanghai Cooperation Organization. He then departed for the Philippines in order to discuss issues of mutual interests with Philippines' officials. Rahimpour left Manila for Canberra in Australia Saturday afternoon.

HJ/MA/MG