"I will get more familiar with Iran's experiences in the field of nanotechnology," Airlangga said while hailing Iran for its industrial growth rate.

He also declared Indonesia’s interest for cooperation in pharmaceuticals, agriculture, textile, and automobile.

In relevant remarks in late December, Indonesia's Eximbank CEO Ngalim Sawega announced that his institution will begin banking cooperation with Iran in the near future.

"Iran’s monetary transactions are currently being carried out through a third-party country which makes the process costly and time-consuming,” Sawega told reporters.

The senior Indonesia banker said that his bank is ready to resume banking interactions with Iran within the framework of mutual agreement between Indonesia Eximbank and Export Development Bank of Iran (EDBI) in a bid to further develop trade ties between the two states.

The official however noted that direct banking cooperation will soon begin between the two sides.

Also earlier in December, Indonesian President Joko Widodo voiced his country's willingness to expand mutual cooperation with Iran in economic and trade fields.

"We hope a new era of relations will begin in Indonesia-Iran relations," President Widodo told reporters.

"I have agreed with Iranian President Hassan Rouhani to raise the volume of exchanges between Tehran and Ankara to the level of two billion dollars from the current $280 million," he added.