1 February 2017 - 15:10
Czech to open $100mn LOC to Iran

TEHRAN, Feb. 01 (MNA) – Czech deputy FM has reported on opening a 100-million-dollar line of credit to support his country’s economic activists in trade ties with Iran.

Martin Tlapa, Deputy State Secretary for European Affairs at the Office of the Government of the Czech Republic, at a meeting in Prague with the visiting Chairman of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIM) Masoud Khansari touched upon the two key issues of financial support for Czech investors in Iran as well as elevation of politico economic ties between the two countries.

In response to Khansari’s question on venues for providing the European country’s economic activists with financial support, Tlapa said a Line of Credit (LOC) worth 100 million dollars will be opened to this end.

In a related story, Khansari, who is leading a huge Iranian economic delegation to Czech Republic, attended a ceremony in Prague New City Hall on the occasion of anniversary of Islamic Revolution.

During the ceremony, the Iranian official said Tehran and Prague were making efforts to bolster bilateral relations adding “today, coincides with the 38th anniversary of victory of the Islamic Revolution which was formed under the moto of ‘independence’ and the country has fortunately managed to maintain its self-re-reliance over these years.”

TCCIMA head stated that Iran’s infrastructures were destroyed during the imposed was and huge costs were paid for reconstruction purposes; “once the Iranian economy had made great progress, we faced severe sanctions which, once more, created barriers to economic growth of Iran.”

“Although was and sanctions caused substantial damages to the Iranian economy, excellent and well-educated human resources were raised who have now achieved majority of the world’s advanced technologies.”

The official pointed to inauguration of a factory for conversion of corn into sugar said very few countries possessed the technology for such a process.

Following implementation of the Joint Comprehensive Plan of Action (JCPOA), Iran was introduced as an emerging power in the world, said Khansari recalling that more than 200 foreign delegations have travelled to Iran or vice versa during the past year.

He rejoiced to mention that very many Iranians were with great positions were residing in foreign countries; “they enjoy prestigious careers and are conducting successful businesses in the Czech Republic.”

Chairman of TCCIMA further expressed satisfaction towards the growing trend in Tehran-Prague relations in the past two years as evidenced by numerous talks on industrial projects and investment of Czech traders which will hopefully lead to fruitful contracts.

He urged the Iranians residing in the European country to exploit the atmosphere emerged in the post-JCPOA era in a bid to reach prosperity and compensate for the backwardness caused by the imposed war and sanctions.

HA/3893614

News Code 123204

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