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Iran, Egypt sign MoU on establishment of commercial council

Tehran, Aug 7, IRNA -- Tehran and Cairo have signed a memorandum of understanding (MoU) to establish a joint commercial council.

The English-language 'Iran Daily` quoted a member of the Iran Chamber of Commerce, Industries and Mines as saying the decision was taken by the chambers of commerce of the two countries.

Mohammad Hassan Shamsfard said that the proposed Iran-Egypt commercial council would later function as their joint chamber of commerce.

The official further stated that the council, once established, will strive to lower tariffs imposed by the Egyptian government on Iranian goods, and expressed hope that bilateral trade cooperation would enjoy a boost after the council is established.

Shamsfard said Egypt is currently one of the largest African markets for Iranian dried fruits and nuts, stressing that the North African country could also turn into a favorable market for Iranian products.

He predicted establishment of the Iran-Egypt joint chamber of commerce will herald a new area in bilateral economic cooperation.

... Payvand News - 8/7/04 ... --

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