Iran and Algeria have agreed to encourage their commercial banks to have more direct contacts as the first step towards opening branches in their respective states, Algerian Ambassador to Tehran told Iran Daily.

Abdel-Monem Ahriz further said both countries are resolute to promote mutual trade and business.

Governor of the Central Bank of Algeria Mohamed Laksassi visited Iran during September 15-17 at the invitation of his Iranian counterpart, Valiollah Seif.

“The two CB governors signed an MoU in a meeting on Thursday. The MoU is aimed at promoting relations, expanding cooperation and increasing exchange of experts between the two banks,” he said.

Ahriz also said that the second session of Iran-Algeria High Economic Commission will be held in Algiers on December 13, 2015.

The meeting will be co-chaired by Iranian First Vice President Es’haq Jahangiri and Algerian Prime Minister Abdelmalek Sellal.

He added Iran-Algeria Follow-Up Committee on Economic Cooperation is also to be held on October 29.

Iranian Minister of Roads and Urban Development Abbas AKhundi and Algerian Minister of Maghreb Affairs, African Union and Arab League Abdelkader Messahel are to co-chair the session.

“The Algerian government has assigned Messahel as the head of the follow-up meeting due to the importance it attaches to maintaining favorable ties with Iran,” he stressed.

The Algerian ministers of housing and urban development and public health are also set to visit Iran in the near future, he announced.

The ambassador further said the Algerian Embassy in Iran is going to organize a cultural week at Milad Tower October 27-30, 2015 to mark the occasion of the 61^st anniversary of the Algerian Revolution.

The event will feature an exhibition of Algerian handicrafts, costumes, national dresses, old paintings and cuisines, he said.

Also, during the four-day event, a famous Algerian movie titled ‘The Battle of Algiers’ — a 1966 war film based on events unfolding during the Algerian Independence War (1954–62) against the French domination — will be screened.

On cultural cooperation between the two countries he said, “It is improving. The two states have a longstanding cultural agreement. Iran is going to hold a cultural week in Algeria October 9-13, 2015, during which the Iranian 50-member team will present programs and expositions both in Constantine [also known as the city of suspension bridges] and Algiers as a part of the event ‘Constantine, Capital of Arab Culture 2015’.

He noted the event, featuring many cultural events, was inaugurated on April 16, 2015 and will continue until April 2016, adding a large number of Muslim Islamic and Arab states are participating in it.