Australia, Iran Sign Memorandum of Understanding on Trade

Australia and Iran have signed a memorandum of understanding on trade during the visit of Australian Minister for Trade, Tourism and Investment Steven Ciobo to Tehran, Iran’s capital.

MOSCOW (Sputnik) – Ciobo arrived in Tehran on Tuesday with a business delegation.

"They are looking for partners," Ciobo told the Iran-Australia Trade Forum at the Iran Chamber of Commerce, Industry, Mines and Agriculture (ICCIMA) on Wednesday, as quoted by The Courier Mail.

A total of three memorandums of understanding (MOUs) were signed during the minister’s visit to the Iranian capital, according to Tehran Times.

One of the MOUs was on cooperation in the field of trade and investment. The other two were on cooperation in water resources and consumption management and on exports guarantee cooperation.

Iran began stepping up international trade and investment cooperation after reaching a historic deal on its nuclear program to ensure its peaceful nature in exchange for the suspension of international anti-Iran sanctions in July 2015.