Iran has successfully tested a new precision-guided ballistic missile, its defense minister said on Sunday, signaling an apparent advance in Iranian attempts to improve the accuracy of its missile arsenal.<br />The Islamic Republic has one of the largest missile programs in the Middle East - despite a United Nations arms embargo - but its potential effectiveness has been limited by poor accuracy.<br />"The Emad missile is able to strike targets with a high level of precision and completely destroy them... This greatly increases Iran's strategic deterrence capability," Defense Minister Hossein Dehghan said at a televised news conference.