Czech Republic € 100 million credit line

Czech Republic € 100 million credit line
ID : N-419 Date : 2017/10/09 - 11:58

(Persia Digest) – The Czech Ambassador in Tehran has announced that € 100 million credit line has been extended to Iran for its projects.

On the sidelines of signing an MoU with IDRO in Iran, the Czech Ambassador said in an interview with IRNA that a delegation from the Ministry of Economic Affairs and Finance of Iran and representatives of the Industrial Development & Renovation Organization of Iran (IDRO) traveled to Prague in December 2016 for the first joint economic commission between the two countries and signed a memorandum of understanding.

He reiterated that mining and industrial groups have been formed so far, and the energy work group will soon be formed between the two countries.

The Czech Ambassador, Mr Chomba, also gave news of agricultural, transport, environmental, and banking work groups being formed in the near future.

He went on to say that we will soon conclude an agreement to protect the investment of the two countries with the Ministry of Economic Affairs and Finance of Iran. This was an agreement reached in previous meetings between Tehran and Prague.

The Ambassador emphasized that a glance at trading between the two countries shows a 60% growth in Czech exports to Iran over the past year and numerous companies have expressed their readiness to expand into Iran.

According to statistics published by the Czech Statistical Office, trade between the two countries increased by 50%, reaching USD 52 million 100 thousand. This figure reached USD 27MM in the first six months of 2017 with a 10% rise. In a similar period last year this figure was 24 million 236 thousand.

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