Iran, Malaysia agree on economic cooperation

TEHRAN, Dec. 23 (Chinese media) -- 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.

Amid 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.