TEHRAN- Iranian and Indonesian chambers of commerce penned 10 memoranda of understandings (MOUs) on cooperation in banking, insurance, stock market, and industry sectors.

The chairman of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), Gholam-Hossein Shafeie, and the chairman of Indonesian Chamber of Commerce and Industry, Rosan Roeslani, signed the MOUs in Tehran on Wednesday, IRIB news reported.

Tehran and Jakarta plan to reach a two-billion-dollar annual trade and it is necessary to overcome banking and customs barriers to hit the target, Shafeie said on the sidelines of the signing ceremony.
 
He pointed out that the two countries will establish their joint chamber of commerce in the near future.

Roeslani, for his part, noted that as the two countries are among emerging economies, boosting bilateral ties can be beneficial to both.

“Iranians are participating in three mining, industry, and agricultural projects in Indonesia. However, regarding their capabilities, it is possible for them to cooperate with Indonesians on transport, tourism and infrastructural projects, too,” he added.

Iran exported $81.5 million worth of non-oil goods to Indonesia in the previous Iranian calendar year (March 2015-March 2016), while imported $109.4 million of non-oil goods from the country, according to Iran Customs Administration.

HJ/MA/MG