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Ali Tayyebnia (L) and Jean Asselborn signed an agreement for promoting mutual support for investment at the Economy Ministry Headquarters in Tehran. 
Ali Tayyebnia (L) and Jean Asselborn signed an agreement for promoting mutual support for investment at the Economy Ministry Headquarters in Tehran. 

Iran, Luxembourg Agree to Support Investments

Iran and Luxembourg have signed an agreement for promoting mutual support for investments

Iran, Luxembourg Agree to Support Investments

High-ranking officials of Iran and Luxembourg have signed an agreement to support investments and improve banking ties.

Economy Minister Ali Tayyebnia met with Luxembourg Minister for Foreign and European Affairs, Jean Asselborn, at the Ministry of Economic Affairs and Finance in Tehran to sign an agreement promoting mutual support for investments with the goal of guaranteeing investment safety for the businesspeople of both countries, reports Banker.ir

“Iran’s policy is to improve ties with European countries, especially Luxembourg,” Tayyebnia said, adding that the agreement is a sign of mutual goodwill and interest toward developing economic relations.

While improving banking ties with the small but economically strong European country remains a key issue following the lifting of international sanctions on Iran, Tayyebnia noted that the progress has not been satisfactory. 

The minister hoped that the next visit to Luxembourg by Central Bank of Iran Governor Valiollah Seif, accompanied by a number of bank CEOs, would further enhance bilateral banking ties. 

Tayyebnia emphasized Iran’s interest in signing an agreement to eliminate additional taxes, which he said would prove significant along with the reestablishment of relations between the two countries’ banks.

“Iran’s capital market is also in favor of creating ties with Luxembourg’s financial institutions,” he said.

Asselborn, who arrived in Tehran as part of a business delegation comprising 40 representatives from Luxembourg companies and Chamber of Commerce figures, said his country wants to expand collaboration with Iran in air transportation and direct investment. 

The Luxembourg delegation is headed by Economy Minister Etienne Schneider. 

Asselborn last paid a visit to Tehran in late November to meet the CBI governor. At the time, both officials welcomed the gradual establishment of correspondent banking relations. The minister also met with his Iranian counterpart, Mohammad Javad Zarif, on Monday. The Iranian foreign minister deemed the current situation suitable for further development of relations with EU member states, saying the country is ready to improve its banking links with Luxembourg. 

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