Tehran and Cairo have decided to establish a joint committee to implement trade, economic, and financial projects, Iranian Economy and Finance Minister Ehsan Khandouzi said on Monday.
The decision is coming a decade after both countries severed ties.
Earlier in the day, Iranian state news agency IRNA reported that Khandouzi had met with his Egyptian counterpart, Mohamed Maait, in Egypt during his first visit to the country in 10 years.
During the negotiations, Khandouzi reportedly announced Iran’s readiness to expand cooperation with Egypt in banking, pharmaceuticals, and other fields.
Maait, for his part, said Cairo was ready to implement Tehran’s proposals.
“I had a productive meeting with my Egyptian counterpart and we have agreed to form a committee to implement joint projects,” Khandouzi was quoted as saying by IRNA.
Diplomatic relations between Iran and Egypt were severed in 1980 after the revolution in Iran when Egypt granted asylum to the deposed Shah of Iran, Mohammad Reza Pahlavi.
Trends toward normalisation between Cairo and Tehran emerged as recently as 2010, but there has been no official restoration of relations. (Sputnik/NAN)