Iran proposes joint bank to Turkey

Iran proposes joint bank to Turkey
ID : N-3113 Date : 2018/10/10 - 13:32

(Persia Digest) – The Secretary General of Turkey-Iran Business Council has announced the possible opening of a joint bank for the two countries in order to increase and facilitate their trade volume. He said a strategic roadmap has been developed for mutual economic ventures.

Seyed Jalal Ebrahimi stated that the setup of an export guarantee fund was a required first step in accelerating trade. He said Iran had recently proposed a joint bank to expand trade ties between the two countries, adding: “This can be helpful in trade ties and facilitate relations between the two countries.”


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Ebrahimi continued: “Iran and Turkey have begun efforts to increase their trade volume and develop their relations in the economic, banking, petrochemicals, minerals, and industrial equipment sectors.


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According to Ebrahimi, a joint economic meeting will take place in Ankara to discuss the roadmap for preferential tariffs, the elimination of the dollar from the trading system, currency swap, using national currencies, commercial warranties to replace SWIFT, and joint credit centers.

He went on to say that both countries were ready to work on biotech drugs and exchange of pharmaceuticals.

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