TEHRAN (ISNA)- Iran and Austria can increase the volume of trade transactions to $1 billion, said Iranian Minister of Economy and Finance Ali Tayyeb-Nia.

“Now, the volume of Iran-Austria trade exchanges total $300 million and during the meeting we agreed to increase it to 1$ billion,” he said after a meeting with Austrian Vice Chancellor and Economy Minister Reinhold Mitterlehner here in Tehran, expressing the hope that the two sides would reach the set goal in the future.

He also said that the Austrian delegation’s visit to Iran could be a turning-point in bilateral ties. “We hope that the problems and limitations will be removed soon and we can witness rise in economic cooperation as well as trade transactions and investment.”

Mitterlehner, for his part, said, “We want the sanctions will be lifted as soon as possible and we can implement what we have agreed on.”

He added that Austria holds enormous potentials in transportation and steel, and these visits can facilitate implementation of the agreements.

By ISNA