Ghana and Iran today signed an MoU to close the fourth session of the Ghana/Iran Permanent Joint Commission for Cooperation in Accra.  

The two countries examined the 2008 Memoranda of Understanding signed between the two countries at the end of their Third Session of the Permanent Joint Commission of Cooperation in Tehran.

Alhaji Muhammad Mumuni, the Minister of Foreign Affairs and Regional Integration said the long standing relations between the two nations had produced tangible benefits, stressing that: "The permanent joint commission for cooperation has become a vehicle for enhancing development between our countries".

Alhaji Mumuni was speaking at the opening of the Fourth Session of Ghana and Iran Permanent Joint Commission for Cooperation in Accra, which aims at scaling up the warm relations and fruitful cooperation existing between the two nations.

The Foreign Minister assured the Iranian delegation headed by Dr Sadegh Khalilian, the Minister of Jihad Agriculture, that the government was committed to the implementation of provisions of the MOU.

Dr Khalilian said Iran was committed to strengthen cooperation with African countries especially Ghana in the area of economics, trade, agriculture and technological transfer.

On trade, economic and financial cooperation, the MOU focused on the establishment of private joint-venture companies to undertake technical and engineering projects such as cement production, power generation and downstream petrochemical industries.

The Iranian side also expressed interest in exploring opportunities in Ghana for joint-partnerships in vehicle and tractor assembling plants as well as processing plants to add value to cocoa production.

To establish confidence among Iranian business operators, the two sides initiated negotiations on agreements for the avoidance of double taxation and investment promotion.

Iran also agreed to extend to Ghana, loans of 250 million dollars for rural electrification and 100 million dollars for the financing of cottage industries, aimed at job creation to stem the rural-urban drift.

On Energy, Ghana and Iran agreed to cooperate in the development of oil and gas with particular reference to the acquisition of seismic data on Ghana's Voltaian Basin.

The two sides agreed to cooperate on the development of human resources for the Ghanaian petroleum industry, power generation, transmission and distribution in the country.