The Iranian Deputy Industry, Mine and Trade Minister and the Indonesian Deputy Foreign Minister signed a trade agreement on Thursday between the two countries, semi-official Iranian news agency Mehr News reported.
The head of Trade Promotion Organization of Iran (TPOI) put Iran-Indonesia trade value at over one billion dollars, Mehr reported.
Iranian minister Hamid Safdel and Indonesian minister Yuri Thamrin signed the agreement in an effort to promote bilateral trade between Iran and Indonesia by exchanging trade delegations and information, holding exhibitions and signing preferential trade agreement thereafter, Mehr quoted Safdel as noting.
The upgrading of trade relations comes in stark contrast with the series of international trade sanctions imposed upon Iran over their nuclear ambitions and human rights records.
Most recently, Canada froze all remaining trade with Iran, Foreign Minister John Baird said on Wednesday.