Minister of Economy and Commerce Shamseddin Hosseini said Iran is ready to provide credit line for purchase of commodities and services to Egypt. Hosseini is accompanying President Mahmoud Ahmadinejad to Cairo for the 12th Summit meeting of the Organization of the Islamic Cooperation (OIC).
Referring to the improving ties between the two countries, he told IRNA that boosting joint economic cooperation was a prelude to closer bilateral relations.
He said the present volume of Iran-Egypt exchanges, standing at an annual dlrs 100 million, is not remarkable, stressing that given the big populations of the two countries the figure has to grow notably.
The minister reiterated that Cairo and Tehran had many capacities to further develop economic ties.