ISLAMABAD, Jan 31: Pakistan and Iran have agreed to hold the next meeting of Joint Ministerial Commission in Pakistan in March to increase economic cooperation between the two countries.

This was decided during a meeting between Iranian Finance Minister Tahmasb Mazheri and Finance Minister Shaukat Aziz here on Saturday.

The Iranian minister appreciated the successful conclusion of the first ECO finance ministers' conference in Islamabad and said that this would help ECO promote economic cooperation among member countries of the region.

The two ministers discussed at length various ways to enhance economic cooperation that included increase in trade, setting up of joint investment company, progress on proposed construction of gas pipeline, opening of banks between the two countries and better communication links.

Both the ministers discussed economic reforms executed in their respective countries and exchanged ideas about next generation reforms.

Mr Aziz explained to his Iranian counterpart that focus of the government was on increased economic growth with emphasizing on housing, engineering, IT and agriculture to generate economic activity and increase employment.

The Iranian minister said Iran was also engaged in major reforms to increase its economic growth and improve life standard of its people. Both the ministers stressed the need for improving bilateral economic cooperation.-APP