TEHRAN (ISNA)- Iran and Algeria signed 9 Memoranda of Understanding (MoU) in their second economic cooperation commission meeting, said Iranian Ambassador to Algeria Reza Ameri.

He said that the two sides agreed to establish a joint banking committee to investigate the existing problems, adding the committee would start working soon.

The meeting was co-chaired by Iranian First Vice-President Eshagh Jahangiri and Algerian Prime Minister Abelmalek Sellal.

He also said Iranian Minister of Road and Urban Development Abbas Akhoundi, Minister of Energy Hamid Chitchian, Governor of Iran’s Central Bank Valioolh Seif and senior Iranian trade officials took part in the meeting in Algeria.

He said the two sides would cooperate on judicial, sports and cultural areas.

He said Iran’s second-largest auto manufacturer SAIPA has signed a contract with an Algerian private company.

The contract includes SAIPA’s production line and auto-parts as well as after-sales service worths 300 million euros for five years.

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