TEHRAN-- Iran and Lebanon will hold their joint economic commission in Beirut in late October, Iran’s ambassador in Lebanon said. 

Ghazanfar Roknabadi told the Mehr news agency on Tuesday that several ministers from the both sides will participate in the meeting.

According to the official, 26 memoranda of understanding (MoU) has been inked between the two countries since the official visit of Iranian president to Lebanon in last year.

After holding the joint economic commission, it is on the agenda to hold the high ranking meeting by participation of Iran’s vice president and Lebanon prime minister, Roknabadi said. 

Iran and Lebanon have actively pursued positive relations in recent years. In recent years, the governments of Iran and Lebanon have taken additional steps to enhance economic and diplomatic cooperation. 

Iranian and Lebanese officials have held several meetings since 2009 to discuss economic issues of mutual concern. Most recently, the two allies inked a $50 million Memorandum of Understanding to increase cooperation in the energy sector. 

The official bilateral trade has continued to expand, increasing from $78.4 million in 2006 to $180 million in 2010.