• Wed / 1 May 2019 / 16:40
  • Category: Economy
  • News Code: 98021106222
  • Journalist : 71477

Iran officially launches trade mechanism to match INSTEX

اتحادیه اروپا و ایران

Tehran (ISNA) – Following registration and establishment of Iranian mechanism similar to INSTEX called the “Special Trade and Finance Institute” (STFI), the first financial transactions between Iran and Europe will be carried out in coordination between Iranian and European sides and banks.

The CEO of STFI, Ali Asghar Noori announced, “Following registration and establishment of STFI and with regard to the meetings held with European countries and the Instrument for Supporting Trade Exchanges (INSTEX), it is decided that the first financial transactions between Iran and Europe to be carried out in coordination between Iranian and European sides and banks”.

“After technical talks with European side, we announced our readiness to operationalize the mechanism and transactions. We also stressed on the importance of accelerating the implementation of the financial channel,” he added.

“In this regard, the coordination sessions have been held with Iranian banks and a series of meetings will be held with Iranian importers and exporters next week to introduce the Iranian company,” the CEO of Special Trade and Finance Institute went on to say.

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