Slovakia and Iran sign memorandum of understanding

Slovak Foreign Minister Miroslav Lajčák and his Iranian counterpart Mohammad Javad Zarif inked a Memorandum of Understanding and Cooperation between the Slovak Republic and the Iranian Islamic Republic in Bratislava on Thursday. According to Lajcak, the Governments of both countries support economic cooperation, such as in the sphere of banking development and transport between the two countries. Zarif claimed that Iran is particularly interested in technologies required for oil and natural gas extraction and cooperation in the construction of nuclear reactors. The trade balance between Slovakia and Iran reached more than €16 million in the first seven months of 2016. "It amounts to year-on-year growth of €3 million, but that still isn't enough," said Lajčák regarding potential economic cooperation at the Slovak-Iranian business forum which took place in Bratislava on the same day.