Tehran (IP) - The Minister of Economy of Iran has announced plans to increase the capital of the Bank of Iran and Egypt in the near future, following an agreement with the Egyptian Minister of Finance to establish a joint committee for advancing bilateral projects.

Iran PressAfrica: Iranian Finance and Economic Affairs Minister Ehsan Khandouzi and the Egyptian Minister of Finance Mohamed Maait discussed the expansion of economic ties between the two countries in a meeting in Cairo.

Khandouzi arrived in Cairo on Sunday at the head of a delegation to attend the 8th annual meeting of the Asian Infrastructure Investment Bank (AIIB), Mehr News Agency reported.

During the meeting with Maait, Khandouzi expressed the readiness of the Islamic Republic of Iran to develop banking cooperation with Egypt as well as transferring pharmaceutical technology and medical equipment to the country.

Seyyed Ehsan Khandouzi took to X (formerly known as Twitter) to share the outcome of his meeting with Mohamed Maait, the Egyptian Minister of Finance.

Khandouzi stated, "I had a constructive meeting and discussion with my Egyptian counterpart, and we agreed on the formation of a committee for joint projects."

Khandouzi expressed hope that this meeting, after years of hiatus, along with the warm welcome from the Egyptian side, would contribute to reviving Iran's government's cooperation and economic diplomacy policy.

In the meeting of Khandouzi and Maait, Cooperation in the field of customs and tariffs and support of banks to businessmen and investors were also among the subjects that were agreed upon.

The Iranian official also expressed willingness to cooperate with Egypt in establishing joint banks, and shipping companies.

He further proposed to form a joint committee between the two ministries to continue the communication and follow up on the discussed projects.

The Egyptian minister for his part stated that Egypt considers it important to develop relations with the Islamic Republic of Iran, expressing hope to see the improvement of relations between the two countries soon.

“The two countries can also cooperate in the field of tourism, and collaborate on joint productions,” the official said.


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