Iran, Luxembourg to boost economic ties

TEHRAN, Oct. 18 (MNA) – Iran’s economy minister, at a meeting with his Luxembourgian counterpart, called for providing grounds for development of bilateral cooperation.

Speaking after a meeting on Monday with the visiting Luxembourg's Economy Minister Etienne Schneider, Iran's Minister of Economic Affairs and Finance Ali Tayebnia voiced the country’s willingness to bolster economic and financial relations with the European country and deemed the concentration of international monetary activities in Luxembourg as an excellent venue for mutual cooperation.

“Benelux countries, comprising Belgium, the Netherlands and Luxembourg, own proper conditions for boosting ties with Iran while current level of interactions are far from satisfactory,” he continued.

The official noted that, given Luxembourg’s capabilities, banking cooperation between the two sides could be highly constructive.

Tayebnia further noted that certain barriers still exist on the way of launching broker ties between Iranian and foreign banks; “recent talks with the head of IMF and the World Bank and economy ministers of Germany, Italy and France, they all promised to spare no effort in resolving the issue soon in order to resume banking cooperation with Iran.

Economy minister of Iran also outlined financial institutions and capital markets as yet other possible venues for reinvigoration of bilateral ties between the two countries since Iranian firms enjoy an excellent background in the world.

Luxembourg's Economy Minister Etienne Schneider, who is on a three-day visit to Tehran, said expressed hope to witness a very promising economic cooperation between the two countries in the future.

He said that Luxembourg government is keen on economic cooperation with the Islamic Republic of Iran and cooperation between universities and technology centers.

The Luxembourgian official pointed to the significance of developing relations between trade firms of the two parties; “for the same reason, representatives of several trade sectors in Luxembourg have arrived in Tehran to meet and talk with Iranian counterparts.”

He went on to underscore that his country earns 3500 billion euros of revenue per year for financial and banking activities; “we attach great importance to development of collaborations between banks of Iran and Luxembourg,” Schneider concluded.

HA/IRN82270225

News Code 120618

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