DAMASCUS, Jan. 29 (Xinhua) -- Syrian President Bashar al-Assad on Tuesday hailed the economic cooperation deals between his country and Iran as a strong economic base to face "the economic war launched by the West," according to the state news agency SANA.

Assad made the remarks during his meeting with Eshaq Jahangiri, the first vice president of Iran, who arrived in Damascus a day earlier and signed economic cooperation deals with Syria.

The Syrian president said the signed agreements hold a strategic dimension and constitute a solid economic base for Syria and Iran to face the economic war launched by the Western countries.

Assad also underlined the need to intensify the mutual efforts at this phase to strip the Western countries from any reason to weaken Iran and Syria.

The president noted that the economic war on both countries comes following the failure of the Western powers to impose their will on Syria through supporting terrorism.

For his part, Jahangiri said that his country, which stood by Syria's side in the war on terror, will be with Syria in the reconstruction process.

A day earlier, Syria and Iran signed 11 economic deals which were seen by Syria's Prime Minister Emad Khamis as a "truly historic station" in the cooperation between both countries.

At a press conference held in Damascus on Monday evening, Khamis said the agreements cover the industrial, agricultural, service, infrastructure and energy sectors among others.

Khamis said his government also reached an agreement with Iran on the banking sector as well as establishing an electricity generating station in the coastal city of Latakia.

Both sides also signed agreements to expand the ports in Latakia and Tartus.

The prime minister continued that they have dozens of projects that will be continued in the oil sector mainly in the eastern region.

Jahangiri highlighted the banking cooperation as the base for economic cooperation, saying the central banks of Iran and Syria have agreed to establish banking cooperation deals between the two countries.

The Iranian official also mentioned the electricity sector, saying they will build an electricity generating station in Latakia city. The agreements also reached for the rehabilitation of other electricity stations in the country.

Both sides also highlighted the need to link Syria with Iran through Iraq by railways so that Iran has a direct link to the Mediterranean.

A permanent fair for Iranian goods will also be opened in Damascus.

The Syrian-Iranian relations support the peace in the world, Jahangiri said, hoping the economic ties between both countries could reach the same level of the political relations.

He added that if it wasn't for the successful counter-terror measures in Syria and Iraq, "we would have been facing terrorism in Europe."

Iran has been a key backer to the Syrian government in the face of the more than seven-year war and is now aiming to be a part of Syria's reconstruction process with the dwindling battles across the country.