Iran, Egypt Finance Ministers Discuss Bilateral Ties at AIIB Meeting

Iran, Egypt Finance Ministers Discuss Bilateral Ties at AIIB Meeting

TEHRAN (Tasnim) – Iran’s Minister of Economic Affairs and Finance Seyed Ehsan Khandouzi met and held talks with Egyptian Minister of Finance Mohamed Maait in Cairo on Sunday.

Khandouzi, who is in the Egyptian capital to participate in the 8th annual meetings of the Asian Infrastructure Investment Bank (AIIB), met with the Egyptian finance minister to discuss bilateral ties and issues of mutual interest, especially in the field of trade and economy. 

During the meeting, Khandouzi emphasized the firm determination of the administration of President Ebrahim Raisi for the development of ties with neighboring and regional countries and stated that Iran and Egypt enjoy high potential to boost the level of mutual trade.

Iran is ready to develop bilateral cooperation within the framework of AIIB, Bank of Economic Development, Iran-Egypt Joint Bank, Egypt Textile Company and Iran-Egypt Joint Shipping Company, he underlined.

Suitable ways have been paved for the two countries to share technical know-how and technology in the fields of pharmaceuticals and medical equipment, Khandouzi stressed.

Egypt's minister of finance, for his part, expressed the readiness of his country to operationalize the proposals raised by Iran’s minister of economy and said Cairo attaches great importance to its relations with Tehran. 

The two countries can forge interaction in the field of tourism, encouraging investment through agreements and memoranda of understanding (MoUs) on customs, and reducing tariffs and taxes, Maait added.

Iran's Minister of Economic Affairs and Finance arrived in Cairo on Sunday at the head of a delegation to attend the 8th annual meetings of AIIB.

Iran is one of the shareholders and founding members of the bank. This is the first time AIIB has held its annual meetings in Africa.

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