TEHRAN -- President Mohammad Khatami said on Tuesday that there is a bright prospect on the horizon for Tehran-Canberra cooperation in light of the existing suitable grounds.

In a meeting with Australian Trade Minister, Mark Vaile, President Khatami called for broadening mutual ties between the two countries.

Australian Trade Minister and co-chairman of Tehran-Canberra Joint Economic Commission accompanied by a delegation of 50 businessmen are currently visiting Iran.

Underlining that dialogue of civilizations is the solution to the human tragedies, President Khatami said that the consequences of the conflict among civilizations which has been imposed upon the humanity are terrorism, arrogance and war.

President Khatami referred to Iran's successful Third Development Plan and stressed the need to broaden mutual economic ties between Iran and Australia within the joint economic commission and the implementation of the agreements already signed by the two countries.

Vaile referring to Iran's economic reforms, said that the adjustment and revision of laws aimed to encourage investment of the foreign private sector have prepared the grounds for attraction of foreign investment adding that Iran is more viable than Australia for investment.