The managing director of the Export Development Bank of Iran said that in the near future a joint banking venture will be established with Belarus by the Export Development Bank, Bank Refah Kargaran, and Bank Saderat Iran.
The Mehr News Agency quoted Kourosh Parvizian saying in a conference on "Export: Opportunities and Challenges" on August 18 in Tehran that securing finances for exports and increasing the capital of banks are the major concerns for the exporters.
Belarus and Iran have been pursuing closer economic ties in recent years. According to Iranian President Mahmoud Ahmadinejad, "the two countries enjoy close cooperation in various areas of transportation, energy, industry, economy and trade."
In May 2007, the two sides agreed to work towards deeper bilateral trade, and Belarusian President Alexander Lukashenko referred to his country's relationship with the Islamic Republic as a "strategic partnership."
In recent years, Iranian banks have opened overseas branches and established joint ventures in the banking sector with other countries.
Iran and Venezuela opened a joint bank in Tehran in April with an initial capital of $200 million, with each country contributing half the needed capital.
Iran and Syria have also reached initial agreement in March to set up a joint bank to give a boost to their economic ties.
Iran has also made investments in Iraq's banking sector. In June 2007, Iran opened a Bank Melli branch in Baghdad. Other agreements have paved the way for the Tejarat Bank and Export Development Bank to open branches in Sulaimaniyah. The Eqtesad Novin and the Keshavarzi banks have also established three bank branches in Karbala, Najaf, and Baghdad.