Iran Economy NewsIndia says agrees on trade mechanism with Iran

India says agrees on trade mechanism with Iran

-

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)

Latest news

To Stay in Power, Iran’s Regime Liquidates National Assets

For several decades, Iranian regime supreme leader Ali Khamenei has sold Iran's resources and wealth for the survival of...

Iran’s 2023 Budget Shrouded In Doubt

On January 22, the Majlis (parliament) approved the draft of the 2023 budget bill proposed by regime president Ebrahim...

Iran: People of Khoy Still Reeling From 5.9-Magnitude Earthquake

An earthquake with a magnitude of 5.9 struck northwest Iran on Saturday, killing at least three people and injuring...

Iran’s Unsolvable Air Pollution Problem

Air pollution will remain at dangerous levels and will increase for the next few days in most big cities,...

The World Must Acknowledge the Iranian People’s Right to Self-defense

Victor Hugo once said: “When dictatorship is a fact, revolution becomes a right.” Throughout history, this has been the...

Iran: 60% Of Population Is Poor

The livelihood baskets of the Iranian people are shrinking dramatically. This, in turn, has introduced new concerns to protect...

Must read

China to attend foreign ministers’ meeting on Iran

Reuters: China's Foreign Minister Li Zhaoxing will attend a...

Iran signals military sites off limits to UN nuclear inspectors

AFP: Iran said Sunday it was not obliged to...

You might also likeRELATED
Recommended to you