IRNA – There is a huge capacity for cooperation between Iranian and German insurance organizations, the Iranian side said.

Head of Iran's Social Security Organization Taqi Noorbakhsh and Head of International Social Security Association (ISSA) Joakim Broer signed a memorandum of understanding (MoU).

Iran pays some 50 bilion Tomans (10.2 billion Euros) monthly for rehabilitation and pension of those who have been injured in workplace, Noorbakhsh said at the meeting, adding that Germany's experiences can play a role in reducing the costs and protection of employees.

The two sides had discussed the MoU conclusion in Panama in November 2016.

The MoU is centered on mutual cooperation in a range of fields, including rehabilitation, hospital management, facilitation of information exchange and educational programs and workshops for staff.