India promises to solve banking issues in trade with Iran
India's ambassador to Iran Gaddam Dharmendra has promised to solve the banking problems for both sides, since the value of trade between Iran and India is at a low level, Trend reports via IRNA.
"The necessary measures have been taken to establish a branch of Pasargad Bank in India, and the bank should implement certain procedures," said the ambassador.
"Negotiations over preferential tariffs agreement have been finalized and the list of the commodity items has been agreed upon," he said during the meeting with Iranian officials.
"Iran can create access for India to reach Eurasian and Central Asian markets," said Dharmendra, while promising a 40 percent discount to Iran's Ports and Maritime Organization.
Dharmendra also emphasized the necessity of implementing a double taxation avoidance agreement between Iran and India.
"Iran's Pasargad Bank currently faces obstacles from India despite coordination that makes banking cooperation difficult. Meanwhile, bartering is a proper way for cooperation outside the banking framework," said Mohammad Reza Bakhtiyari International advisor of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA)
"The cooperation in petrochemical, IT and mining sectors would be a good field for trade between two countries," said the Iranian official.
The Indian ambassador has encouraged Iranian producers to export products to India and discussed the barter of goods.
Trade through bartering, establishing bank branches in the other country, facilitating trade for the two sides’ businessmen, imposing preferential tariffs, and necessity of double taxation were some of the topics discussed by the two sides.