FM: Iran-India trade more than energy ties

EghtesadOnline: Foreign Minister Mohammad-Javad Zarif said on Saturday that Iran-India trade is more than the oil, gas, energy ties.

News ID: ۷۳۸۳۷۰

04 December 2016

According to IRNA, he made the remarks in a speech to Iran-India economic seminar.

Zarif said that economies of Iran and India, as the biggest producer and consumer of energy, are complementary to each other.

He said Iran will never forget the Indian cooperation at the tough era of sanctions.

The minister said that the Islamic Republic of Iran is willing to enhance level of trade with India and expects the Indian government to make preparatory works in this respects.

Zarif said that Chabahar free trade and investment zone is the suitable ground for economic cooperation with India and that investment in Chabahar is important for Iran and the entire region as well.

Calling Chabahar and north-south corridor as the grounds available for economic vibrancy of the region, Zarif said yjsy Chabahar can link India with Afghanistan, Central Asia, Russia and Europe.

Zarif called for regulating Iran-India banking ties, saying that easy banking transactions will serve economic relations to further expand more.

'A senior Indian central bank official has announced opening a branch of Indian UCO bank in Tehran by end of 2016.'

Zarif said that it can serve as a very important step towards economic cooperation with Iran between the Iranian and Indian economic activists.

Iran's Ambassador to New Delhi, Gholamreza Ansari told the meeting that after lifting the sanctions, the two countries managed to expand economic cooperation quickly.

'For the time being, oil accounts for major portion of trade and Indian oil imports from Iran has reached the pre-sanction level.'

The ambassador said that Chabahar free trade and investment zone can serve to develop economic cooperation among Iran, India and regional states.

He noted that by using the North-South corridor, India can export goods to Afghanistan, Central Asia, the Caucasus, Russia and Europe.