News ID: 4104658 -

Iran, Britain ink MoU to deepen trade ties

TEHRAN, Oct. 04 (MNA) – Iran and Britain have signed a cooperation agreement aimed at developing bilateral trade transactions.

During the visit of an Iranian delegation to London, the cooperation agreement was signed at presence of Head of Tehran Chamber of Commerce, Industries, Mines, and Agriculture (TCCIMA) Masoud Khansari and Chairman of British Iranian Chamber of Commerce, Lord Norman Lamont.

Speaking at the MoU-signing ceremony, Khansari pointed to elimination of barriers to investment in Iran saying “once President Rouhani took office, inflation rate dropped from 40 to 10 percent thanks to joint venture in transportation, oil and insurance sectors which paved the path for further investment in Iran.”

He referred to arrival of 200 trade delegations in Iran following implementation of the Joint Comprehensive Plan of Action (JCPOA) though few visits led to formation of contracts adding “volume of trade turnover between Tehran and London became twofold in the first half of 2017 though the figure is expected to grow further.”

Lord Norman Lamont, Chairman of British Iranian Chamber of Commerce, for his part, emphasized that growth in trade was far more important that signing a contract on a piece of paper and encouraged British and European firms to make investments in Iran.

He later touched upon financial restrictions and, while expressing hope that all limitations will be resolved, said “the British government holds a positive attitude towards Iran although policy of US against the JCPOA remains unclear and unpredictable.”

At the end of the session, a Memorandum of Understanding (MoU) was signed by heads of TCCIMA and London Chamber of Commerce.

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