Azerbaijan to Launch Joint Bank in Tehran
Economy, Business And Markets

Azerbaijan to Launch Joint Bank in Tehran

Iran's ambassador to Azerbaijan announced the establishment of a joint bank in Tehran in the near future for facilitating banking operations and developing investment and trade activities between the two neighboring countries.
"To overcome banking problems with the adjacent country, several measures are to be taken by Iran such as barter deals and currency swap agreements to eliminate the US dollar as the intermediary currency and use local currencies instead," ISNA quoted Mohsen Pakaeen as saying in a trade conference held in Tehran on Sunday focusing on Iraq, Azerbaijan and Turkmenistan.
He said Iran can export food, agricultural products and construction materials to Azerbaijan.
"Currently, bilateral non-oil trade with Azerbaijan stands at $500 million in value, but if tourism revenue is added, the figure would exceed $2 billion," he said.
To boost exports to Azerbaijan, the Ministry of Roads and Urban Development should consider cutting export tariffs.
The two-day conference aims to present Iran's export advantages and list the requirements of export destinations, define new standards for domestic goods and services, adopting a competitive approach, present practical strategies for facilitating exports of goods and services, discuss ways of having a more effective presence in international expos and study solutions to transportation, banking, customs and insurance issues.


Short URL : http://goo.gl/gjusqq

You can also read ...

BMW’s Tech-Stuffed Concept SUV Heralds Fancy, Electric Future
Changing notions of what customers want from cars have pushed...
Tesla Hits New Speed Bump
Tesla Inc’s Chief Executive Officer Elon Musk on Sunday...
Oil & Gas Sector Most Conducive for Business
The research arm of Iran’s Parliament has conducted a first-of...
3 CBI Officials  to Leave
Following the recent passage of the law banning the employment...
CBA Concerned About Forex Outflow to Iran
The Central Bank of Afghanistan raised concerns about the...
Anzali Port to Be Connected to National Railroad
Anzali Port in the northern Gilan Province will be connected,...
Mineral Trade Surplus Hits $2.9b
Iran exported more than 25.47 million tons of mineral products...
Departure Tax Revenues  Up 117 Percent
The government earned 3 trillion rials ($24 million) from...