Iran and Algeria agreed to establish a joint trade council with the aim of upgrading bilateral commercial and investment ties, IRNA reported.
The agreement was reached between Islamic Republic of Iran's ambassador to Algeria, Mahmoud Mohammadi and head of Algeria's Chamber of Commerce, Taher Kelil in Algeria's capital of Algiers on Sunday.
Referring to the upcoming visit of the head of the Islamic Republic of Iran's Chamber of Commerce to Algeria, the Iranian envoy proposed that the private sectors of both countries be introduced to each other with the purpose of implementation of new joint projects during that visit.
"The presence of big Iranian firms in Algeria is necessary," Mohammadi said while saying that the current volume of trade of 30 million dollars between Iran and Algeria is insufficient.
Describing Algeria as a developing country and making good economic progress, the Iranian diplomat pointed out that capabilities, know-how and expertise of Iran can help Algeria make greater progress.
Taher Kelil for his part said that during an upcoming visit of the Head of Iranian Chamber of Commerce, Industries and Mines Mohammad Nahavandian to that country a joint trade council will be formed.
Nahavandian will pay a visit to Algeria at the head of a high-ranking trade delegation in September.