Qatar and Iran are poised to further develop the trade relations between the two countries, which is currently worth about $500 million per annum, said the Qatari ambassador to Tehran.

The two countries have a historical and strong trade, economic, and transportation infrastructure and should boost ties in air transportation, Ali bin Hamad Al Sulaiti was quoted as saying by the Iran Daily, during a Qatar Airways ceremony.

He also said that a large number of Iranian businessmen and traders are active in Qatar and their investments are incrementally increasing.

Both Iran and Qatar have lately augmented efforts to further expand ties and cooperation in the political, economic, defence, security, judiciary and cultural fields, said the report.

The two Persian Gulf littoral states have signed several protocols in recent years to increase mutual cooperation, it added.

In December, Iran's first Vice-President Es'haq Jahangiri in a message to Qatari Prime Minister Sheikh Abdullah bin Nasser bin Khalifa al-Thani said Tehran was resolved to promote ties with Doha.