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Iran, Malaysia agree on economic cooperation

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TEHRAN, Dec. 23 (Xinhua) -- Iran and Malaysia agreed on Tuesday to cooperate in the scientific, technological and economic fields, the official IRNA news agency reported on Tuesday.

Iranian and Malaysian officials signed three letters of understanding for bilateral cooperation in "scientific, technological and auto manufacturing fields as well as campaign against drug trafficking," according to the report.

Iran's President Mahmoud Ahmadinejad and visiting Malaysian Prime Minister Abdullah Ahmad Badawi attended the signing ceremony.

Heading a high ranking delegation, Badawi arrived in Tehran on Sunday for a three-day visit.

"During the ceremony, Iran's Zagros Khodro company signed an agreement with the Malaysian Proton company to carry out joint auto manufacturing projects," IRNA said.

mid increasing economic cooperation between the two countries, Iran and Malaysia signed several memoranda of understanding (MoU) on cooperation earlier this month, under which Malaysia will invest 5 to 6 billion U.S. dollars in Iran's gas fields.

Iran has also inked a contract to build a petrochemical refinery complex in Malaysia.

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