"This visit was an important step in the journey of deepening our economic collaboration and business ties between our two countries, between the two governments," Iswaran said after his two day visit to Tehran, Channel News Asia reproted on Tuesday.
He left Tehran for Singapore on Tuesday.
During his two-day stay, Tehran and Singapore signed a Bilateral Investment Treaty (BIT). The accord was signed during a meeting between Iran's Minister of Economic Affairs and Finance Ali Tayyebnia and Iswaran on Monday.
"We (Iran and Singapore) have signed the bilateral investment treaty which is a signal of the whole government’s commitment to promoting stronger economic ties and also a signal to the business community that their investments will be afforded appropriate protection," he said.
The Singaporean minister headed a 51-strong trade mission to Iran as part of efforts to further expand his country’s economic cooperation with Iran following the termination of anti-Tehran sanctions.
There has been growing international interest in ties with Iran since Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 finalized a comprehensive deal on Tehran’s nuclear program and implemented it on January 16.
The comprehensive nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), terminated all nuclear-related sanctions on Iran after coming into force.