ABU DHABI The Islamic Republic of Iran and Qatar inked a memorandum of understanding (MoU) on mutual cooperation Saturday night. The MoU was signed at the end of the second session of the joint Iran-Qatar Economic Commission in the presence of Iranian Minister of Energy Habibollah Bitaraf and the Qatari Minister of Finance, Economy and Trade Yusef Hussein Kamal, who were leading the Iranian and Qatari delegations to the session.

During the two-day seminar, a draft agreement on encouragement of joint investments was signed by the relative officials. After signing the MoU, the Iranian minister referred to the good and consolidated relations between the two countries, calling for further upgrading of mutual economic and engineering cooperation, and exchange of expertise and technological know-how. In the meeting, the Iranian minister voiced Iran's readiness for export of goods, technical and engineering services as well as contribution to development projects in Qatar. The Qatari minister in reply welcomed expansion of economic, technical and engineering cooperation with the Islamic Republic of Iran while lauding the Iranian progresses in industrial and technological field in recent years.

He then underlined the need to take practical steps to expand mutual cooperation between the two countries. He also promised to encourage the Qatari private sector to engage in joint economic cooperation with Iran. Meanwhile, Iran's Exclusive Trade Fair in Qatar concluded its work Sunday in a ceremony attended by the Iranian Energy Minister. Over 600 Iranian companies had put on display their products and services at the Doha trade fair.

Iran's Embassy in Doha held a banquet on Sunday night in which the Iranian and Qatari ministers along with some officials from two countries participated.