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October 05, 1994

1. In view of the fraternal bonds existing between the Government of the Republic of the Philippines and the Islamic Republic of Iran and their peoples and with the aim of further strengthening and promoting these fraternal relations on the basis of friendship and mutual benefit and recognizing the benefit to be derived by the two countries from closer cooperation, the Government of the Republic of the Philippines and the Government of the Islamic Republic of Iran, hereinafter referred to as the parties, have decided to establish a Joint Commission at Ministerial level for cooperation in Economic, Agriculture and Fishery, Mining and Industry, Trade, Energy and Petrochemical, Science and Technology, Culture and Sports, Drugs Control.

2. The Joint Ministerial Commission will explore the possibilities of promoting relations, particularly in the fields of Economic, Energy, Mining, Scientific and Technical cooperation between the relevant organization of the two countries.

3. The Parties will provide the necessary facilities for fulfillment and promotion of such cooperation within the framework of existing regulations of each country.

4. The Joint Ministerial Commission will meet at least once a year alternately in Manila and Tehran.

5. In order to facilitate the identification of specific areas of cooperation, the Joint Ministerial Commission may appoint sub-commissions.

6. If deemed fit, the parties may set up other sub-commissions or annul the existing ones. The sub-commissions will meet as often as mutually considered necessary.

7. The Joint Ministerial Commission and the sub-commissions may compile their working regulations that are necessary for the performance of the duties given to them as per existing rules in their respective countries and in accordance with this Memorandum of Understanding.

8. For the implementation of the decisions taken at the Ministerial level, there may be exchange of delegations at official level as and when deemed necessary.

9. The Joint Ministerial Commission will be co-chaired by the minister of commerce of the Islamic Republic of Iran and the equivalent cabinet minister of the Republic of the Philippines.

10. Done at New York on 5 October 1994 in two original copies, in the English and Farsi languages, all the two texts being equally authentic.