JAKARTA, Nov. 25 (Xinhua) -- Senior Indonesian and Iranian officials gathered here on Friday in Joint Economic Commission (SKB) meeting, discussing ways to further explore bilateral economic ties after the signing of Joint Comprehensive Plan of Action (JCPOA) that revokes international economic sanctions against Iran.
Bilateral talks between the two delegations in the meeting were divided into committees comprising finance, trade, industry and investment, infrastructure and other sectors.
"The two nations are bound with similarities in culture and values. As now we have established cooperation in economy, education, research and technology and sports," Indonesia's Coordinating Minister for the Economy Darmin Nasution said on the sidelines of the meeting held in his office here.
Darmin jointly presided over the meeting with Iran's Information Technology and Communications Minister Mahmoud Vaezi.
The meeting was the 12th held by Indonesia and Iran delegations and the first after the signing of the nuclear non-proliferation agreement, known as Iran nuclear deal, last year that annulled several economic sanctions against Iran.
Two-way trade between Indonesia and Iran was recorded at 273.1 million U.S. Dollars last year. In the first eight months this year, trade between the two countries stood at 150 million U.S. Dollars, lower than 195 million U.S. Dollars in the same period last year.
Iran's accumulated investment in Indonesia was recorded at 6.3 million U.S. Dollars from 2011 to 2014, divided in 16 different projects.
Indonesia is now seeking further expansion of cooperation in energy sector. Indonesian oil and gas firm of Pertamina has established cooperation with its Iranian counterpart, National Iranian Oil Company (NIOC), in LPG supply.
Indonesian President Joko Widodo is scheduled to undertake official visit to Iran mid next month.
