Iranian Minister of Economic Affairs and Finance Ali Tayebnia said Tehran and Beirut will facilitate and speed up their bilateral trade by signing a preferential trade agreement.

‘To this end, a working group was formed by Iran to study carefully the details of the agreement,’ he said in the meeting with Lebanon’s visiting Finance and Treasure Minister Ali Hassan Khalil here on Tuesday.

He said economic and trade ties between Iran and Lebanon is lagging behind cultural and political relations, and added, ‘After nuclear negotiations were concluded, the ground for cooperation and investment between the two countries is prepared.’

‘The two sides shall expedite and expand their cooperation in the field of financial and banking exchanges in order to prepare the ground for increasing the economic ties,’ Tayebnia added.

‘Iran has placed no limitation on the expansion of its economic ties with Lebanon,’ he said, ‘The banking, insurance and inter-banking ties can lead to development of economic and trade ties.’

The Lebanese minister said certain oppressive limitations on Iran resulted in the reduction of economic ties with Lebanon.

‘Fortunately, with the recent developments and removal of sanctions, the conditions will be prepared once again,’ Khalil said.