A high-ranking economic delegation from Bosnia-Herzegovina is slated to arrive in Tehran later on Saturday to hold talks with Iranian businessmen and senior trade officials.

The 14-member economic delegation from Tuzla Canton, the third of 10 cantons of the Federation of Bosnia and Herzegovina, will be headed by Governor of Olovo Jamal Mamduch.

The Iran-Bosnia Economic Friendship Group will also meet with the visiting Bosnian delegation to confer on expanding cooperation and making use of the existing trade opportunities in the private sector.

Prior to the Bosnian delegation visit to Iran, Tuzla Canton Prime Minister Bego Gutić in a meeting with Iranian ambassador to Bosnia thanked Iranian Embassy for its efforts on facilitating economic transactions.

“The visit of the economic delegation from Bosnia’s private sector shows that the two countries are on the right path toward improving trade ties,” Tuzla Canton prime minister said.

In a relevant development in late October, Iran and Bosnia-Herzegovina signed a memorandum of understanding (MoU) on broadening of trade and economic cooperation with Iran.

The MoU was signed by the two countries’ senior officials in the presence of Iranian President Hassan Rouhani and the visiting President of Bosnia-Herzegovina Bakir Izetbegović during a ceremony at Tehran’s Sa’adabad Complex.

According to the MoU, the two countries should work for the expansion of cooperation among the Iranian and Bosnian enterprises and industrial parks.