Talking to IRNA on the sidelines of a ceremony to ink a memorandum of understanding and agreements for mutual economic cooperation, Khorram said Tehran and Vienna have reached important agreements in the economic sector.

Khorram said Iran and Austria have good cooperation in railway transportation and they are soon to set up a locomotive production factory.

He added that the two sides are to set up a Siemens subsidiary in Iran.

Furthermore, Austria is to partly finance implementation of a project for promotion of Iran's infrastructures and exchange of students.

He stressed that Tehran and Vienna had reached agreement for establishment of air taxis, 49 percent of related expenses being met by Iran and 51 percent by Austria.

He added that Iran and Austria have agreed to add one more flight to their already flight schedule as of this month.

The Minister said Austria is to issue 3,700 travel visas this year for the Iranian drivers traveling to Europe via Austria.

Khorram and his Austrian counterpart Hubert Gorbach had on Wednesday signed documents for expansion of mutual cooperation in the fields of transportation and health as well as avoidance of double taxation and encouragement and support of foreign investment.

Gorbach who was in Tehran on a three-day official visit, left Iran on Wednesday after signing several documents on mutual cooperation.