TEHRAN, April 3 (Xinhua) -- The head of the Iran Trade Development Organization said Sunday Iran and Belarus will set up joint chamber of commerce to promote their economic ties, the official IRNA news agency reported.

In a meeting with the Belarusian Ambassador in Tehran Victor Ribak, Hamid Safdel said the establishment of the Iran-Belarus joint chamber of commerce will promote economic cooperation between the two countries, according to the report.

The commercial ties between the two nations is promising, Safdel was quoted as saying.

Ribak, for his part, said that Iranian merchants invested some 20 billion U.S. dollars in his country in 2010. He added his country is ready to organize exclusive exhibitions in different Iranian provinces, according to IRNA.