Iran, Algeria sign banking MoU
Baku, Azerbaijan, Sept. 18
By Fatih Karimov - Trend: Iran and Algeria signed a memorandum of understanding to share experience in monetary and fiscal policies.
Central Bank of Iran (CBI) Governor Valiollah Seif and his Algerian counterpart Mohammed Laksaci signed the MoU in Tehran, the CBI press office said Sept. 17.
The two sides agreed to cooperate in supervisory and management areas, as well as holding seminars and workshops, forming educational and working groups, and establishing joint banks and brokerages.
A special committee will be set up to follow up the implementation of the agreements.
Laksaci arrived in Iran on September 15. He also met with Iranian Roads and Urban Development Minister Abbas Akhoundi who chairs the Iran-Algeria joint economic committee.
Gholam-Hossein Shafei, the head of the Iran Chamber of Commerce, Industries, Mines and Agriculture, said in May that the two countries can boost cooperation in oil, gas and petrochemicals, construction of silos, cement factories, highways, bridges, overpasses, and airports.
Meanwhile, Mohamed Laid Benamor, the president of the Algerian Chamber of Commerce and Industry, said the bilateral trade amounted to $7 million in 2014, which was not satisfactory. He added some 97 percent of the figure pertained to Algeria's imports from Iran.
Edited by CN