Iran's deputy minister of industry, mines, and trade underlined that the Islamic Republic is after a win-win situation in economic relations with Britain.
Mojtaba Khosrotaj, who was speaking in a Sunday meeting in Tehran with Britain's trade envoy to Iran, Lord Norman Lamont, said Iran's imports from Britain trails far behind its exports to the European country, Tasnim News Agency reported.
He added that a balance should be created in bilateral trade by increasing Iran's exports to Britain.
The deputy minister, who is also the head of Iran's Trade Promotion Organization (TPO), further highlighted the importance of insurance and banking ties between Tehran and London adding it would not be possible to promote economic cooperation without 'effective' banking relations.
The British envoy pointed to the capacities of the two countries in boosting cooperation in all economic spheres, and said efforts are underway to resolve banking problems which hinder Iran's trade with other countries.
The remarks come against the backdrop of a new wave of interest in ties with Iran after Tehran and the P5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 reached a conclusion on the text of a comprehensive 159-page deal on Tehran's nuclear program, The deal was implemented on January 16.
The comprehensive nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), terminated all nuclear-related sanctions on Iran.
However, some Iranian officials complain about the US failure to fully implement the accord, as Iran still has problems in banking transactions with other countries.