As a bid to ease trade with African countries, the Iran Chamber of Commerce, Industries, Mines and Agriculture is devising a barter system with African local banks, the secretary-general of Iran & Africa Council for Economic Cooperation, Mohammad Reza Faqihi, told Financial Tribune in an interview.
Faqihi said the project has been sent to ICCIMA and funding issues are under review. The scheme consists of four general phases and 13 operational measures.
October 15, 2018 21:32
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Iran Plans Barter Trade With Africa - Interview
The plan will not work with Africa’s international banks during the sanctions’ era because they are exposed to US business
Iran-Africa barter project is being pursued in collaboration with the Foreign Ministry, Trade Promotion Organization of Iran, and the Africa Department at ICCIMA
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