TEHRAN -- Iran-Bahrain relations that started to broaden following the last year state visit of King Hamad bin Issa to Tehran, are yet to witness brighter days after President Seyed Mohammad Khatami's upcoming visit, next month to Manama.

Commerce Minister Mohammad Shariatmadari declared here that several agreements on development of mutual ties which were drawn up at the meeting of the Third Iran-Bahrain Joint Economic Commission in Manama (April 15-17) are to be signed during President Mohammad Khatami's upcoming visit.

He told IRNA that an agreement on marine, shipping, trade and customs cooperation and memorandums of understanding (MOUs) on mutual collaboration in various fields are among the documents to be signed.

The minister said that a series of primary negotiations on bilateral cooperation in various fields including economy, trade, customs, tourism, banking, environment, sports, technical issues, science and research were conducted between the two parties before his arrival.

"An MOU on Bahrain's membership in the North-South corridor is one of the documents to be signed," he added.

Referring to the extension of credit to Bahraini clients of Iranian goods as one of the achievements of the session, he said that the export guarantee fund of Iran in joint cooperation and guarantee of Bahraini banks is to extend a $30 million credit to buyers of Iranian consumer goods in Bahrain for a one-year period and dlrs 60 million for intermediate and invested products.

"The agreement reached on the establishment of Iran-Bahrain joint shipping company and partial extension of the shares of the Iranian Val-Fajr8 Shipping Co. to the Bahraini partner was one of the joint projects discussed," he added.

Referring to the establishment of a joint bank, discussed in Manama, he hoped that it will be realized shortly with the investment of the private sectors of the two states to witness the growing trend of banking cooperation, given that Bahrain owns one of the most significant regional monetary centers.

The minister pointed out that mutual understanding was also reached on reexport of Iranian goods through Bahrain to other regional states and Iran's serving as a bridge to transfer Bahraini goods to the Central Asian states and the Caucasus.

According to him, the establishment of Iran's Trade Center in Bahrain, aimed at presenting Iranian goods, was welcomed by Bahrain, which is keen to provide Iran with a proper location soon to enable its private sector to open a shopping moll in Bahrain.

Shariatmadari pointed out that in a meeting with Bahraini king he stressed Iran's impartiality in the U.S.-UK Iraq war, its joy over the downfall of Saddam Hussein and the need for the election of a democratic government in the war-torn country.

During the meeting, Bahraini Minister of Commerce Ali Saleh Abdullah as-Saleh, who chaired the Bahraini delegation, said that holding the meeting under the critical regional conditions hints the determination of both sides to the broadening of ties. The Bahraini minister also declared that delegations from three ministries, as well as a political, committee and a delegation of Bahraini businessmen are due to visit Tehran in the future.