A senior Iranian trade official said that the countrys businessmen will be able to open Letters of Credit (LC) in several European countries now.
"Given the implementation of Joint Comprehensive Plan of Action (JCPOA), Irans expenses in international trade have been reduced and from now on the countrys businessmen can open LCs through a number of banks in Germany, Switzerland, Italy and Austria," Deputy Head of Irans Chamber of Commerce, Industries, Mine and Agriculture Pedram Soltani said on Saturday.
He underlined that during the sanction era, Iran had to pay costly expenses between 3 to 8 percent for transferring money with other countries, but now the expenses have reduced to less than half percent.
On Friday, Head of Australias Vorarlberg State Chamber of Commerce Helmut Steurer underlined the need for broadening of trade and banking relations with Iran.
"I am certain that my countrys banks are willing for active presence in Iran," Steurer told reporters.
He underlined that the Austrian banks must open up branches in Iran.
Steurer has recently visited Iran to attend a conference on Iran-Austria trade cooperation, and said, "There are some agreements for protecting joint investments between Iran and Austria which can serve as a good base for promotion of investments in the future."
He said that since Austrias Vorarlberg state is a neighbor of Switzerland, Germany and Lichtenstein, the western Austrian State of Vorarlberg has to compete with these economic powers.
"The products of this state are of high quality and can help Irans progress," Steurer added.
The conference on Iran-Austria trade cooperation was held in Tehran on November 7.
Source: FNA - Date: (13 November 2016)