Lebanese increased trade ties with Iran

"The trade exchanges between the two countries stand at about $70mln," Habhab told FNA on Saturday, adding that the Lebanese side is trying to obtain tax exemption for export of certain products and goods to Iran. The Lebanese diplomat called for the further expansion of agricultural cooperation between Tehran and Beirut, and said an agreement was signed by the two countries' officials four months ago which can facilitate export of Lebanon's agricultural products to Iran. He also referred to the geological studies conducted by the Iranian companies for extracting oil along Lebanon's coasts, and expressed the hope that the studies would continue until finding rich oil and gas resources in his country. Iran and Lebanon enjoy cordial relations and have further expanded these ties in recent years. The two sides have exchanged several delegations of high-ranking officials in the last two years. Iranian and Lebanese officials have recently doubled efforts to further expand the bilateral relations and mutual cooperation between the two nations. Iran's First Vice-President Mohammad Reza Rahimi was in Beirut earlier this month to attend the high council of Iran-Lebanon joint economic cooperation. During the visit, the two sides signed several agreements and stressed accelerated implementation of the agreements already inked by the two states. The high council of Iran-Lebanon joint economic cooperation also agreed to increase the two countries mutual cooperation, specially in the energy sector. Speaking to reporters after the meeting, Rahimi pointed out that the value of Iran-Lebanon trade volume stands at $150 million, noting that the two countries have decided to increase the level of their bilateral transactions by 14 times as much the current level. He said Tehran and Beirut agreed on a plan for the export of the Iranian natural gas to Lebanon via a land route. "The high joint cooperation committee of the two countries has agreed on transferring the Iranian natural gas to Lebanon through Iraq and Syria," Rahimi said at the end of his two-day visit to Lebanon. The required arrangements have been made with Iraq during the April visit by the Iraqi Prime Minister Nouri al-Maliki to Iran, he added. During Rahimi's visit, Tehran and Beirut also agreed to finalize a mutual free trade agreement, grant immediate and free visas to applicants from both states and facilitate the activities of business entities.