Iranian private sector ready to assist Bosnia

During the meeting, Mehman-Parast pointed to the capabilities of Iran's private sector to provide assistance to Bosnia in the areas of energy, rail transport, food industries and power plants.He also highlighted the need to introduce all the existing capacities to the people and particularly the business entities in the two countries in order to accelerate bilateral transactions. The Iranian official made reference to the first Iran-Bosnia joint economic commission and expressed optimism that the agreements reached by the body will pave the ground for future collaborations. Iran and Bosnia and Herzegovina have sought hard in recent years to expand bilateral ties and cooperation as two Muslim states. In May, 2010, Iranian and Bosnian officials signed several memoranda of understanding (MoUs) on economic cooperation at the end of the first meeting of the two countries' joint economic commission in Sarajevo, Bosnia. The MoUs were signed by Iranian Economy Minister Seyed Shamseddin Hosseini, who presided the Iranian delegation in the meeting, and Chairman of Bosnia-Herzegovina's Council of Minister Nikola Spiric. The agreements include mutual cooperation between the two countries' chambers of commerce as well as cooperation in the different fields of transportation and communication, banking and insurance, industry, tourism, standard, agriculture, science and technology, and health. The two countries also agreed to form a strategic committee, which will hold biannual meetings in the two countries in rotation, to ensure implementation of the MoUs.