TEHRAN -- The Ministry of Finance and Economic Affairs announced that Iran and Bahrain will sign an agreement to avoid double taxation of their citizens in the near future.

According to the Central News Bureau, following the Bahraini king's visit to Iran during which the two countries' officials discussed the expansion of bilateral cooperation, tax experts of the two sides drew up and signed an agreement to avoid double taxation after intensive negotiations last week.

The finance and economic affairs ministers of the two countries will also sign the agreement.