Reuters: India and Iran have agreed on a mechanism to ensure smooth goods trade flows, including payments to Indian exporters, the Indian finance ministry said on Wednesday.
NEW DELHI, Oct 5 (Reuters) – India and Iran have agreed on a mechanism to ensure smooth goods trade flows, including payments to Indian exporters, the Indian finance ministry said on Wednesday.
Delegations met for two days in the Indian capital and agreed to “continue their engagement” in smoothing payments of all goods, according to a ministry statement.
“The two sides held detailed and constructive discussions on the various options for resolving the issues relating to settlement of payments,” it said.
“Both sides agreed on the mechanism to be put in place for the purpose, including for the payment to Indian exporters and project exporters,” it added, but did not give further details.
Indian importers of Iranian oil have already agreed to a mechanism using Turkish state-owned Halkbank to make payments. (Writing by Matthias Williams)
