"The development of banking, industrial and commercial ties should be a top priority for the two nations," Karbasian said in a meeting with senior Slovak officials in Bratislava, Trend News Agency reported.
"Slovakia is one of Iran's most important trade partners in Eastern Europe," he pointed out.
The minister said the two countries need to make all-out effort to use all untapped potential and increase trade turnover.
Iran is now exporting agricultural products to Slovakia, he said, noting this could help raise the two countries' export capacities in the future.
Karbasian further referred to Slovakia's exports to Iran, and underlined the need for further expansion of banking ties between Tehran and Bratislava.
After paying a one-day visit to Slovakia, the Iranian economy minister left Bratislava for the Austrian capital of Vienna on Thursday as part of Tehran's efforts to enhance ties with Europe following Washington's withdrawal from the 2015 nuclear deal between Tehran and world powers.
Iran's trade with Slovakia experienced the fifth biggest year-on-year contraction from among the 28-member states of the European Union. Iran's exports to Slovakia registered close to €7.9 million last year, indicating a 19-percent decline compared with the amount for the previous year, based on the latest Eurostat figures.