The two sides will work to strengthen scientific, technological and academic ties.
Student and professor exchange programs, along with joint scientific conferences and establishing new technology firms are envisaged in the agreement, the Vice Presidential Office website isti.ir reported.
De la Pena, who is secretary at the Philippines' Department of Science and Technology, said his country is seeking Iran's collaboration to promote bio-technology, nanotechnology, neuroscience, medicine and drug production, Financial Tribune reported.
Pointing to the fact that Philippine is home to many research institutions and technology firms that have taken steps towards promoting science and technology, De la Pena said Manila wants help from Iranian experts to improve the management of such he institutions.
"With help from Iranian expertise and their experience, the decision will help accelerate scientific and technological growth in the Philippines," he noted.
De la Pena said exchanging students and university teachers will also help boost academic growth in both countries.
He invited Iran to take part and exhibit achievements in different branches of technology at the international scientific and technology events hosted regularly in his country.
Speaking at the meeting, Sattari suggested joint establishment of innovation centers, startup accelerators, knowledge-based companies and co-organized technology startups as the other constructive moves.
Pointing to Iran's efforts to promote technology growth, Sattari said, "There are currently 41 technology parks, 4,200 knowledge-based companies and 6,000 startups in the country in diverse fields. We can do better in collaboration with other countries like the Philippines."