Expansion of banking ties would facilitate Tehran, Baku trade
Tehran, Iran, Jan. 23
By Kamyar Eghbal – Trend:
Expansion of banking ties between Iran and Azerbaijan would contribute to widening bilateral trade ties, an Iranian banker told Trend.
The former CEO of Iran’s Bank Tejarat Mohammad Ebrahim Moghadam Nodehi has said that connecting the baking payment systems of the two countries would help to facilitate the trade.
An agreement between the central banks of the two countries on the ways to clear accounts would be the most important issue to realize this idea.
He further suggested that creating a joint bank between the two countries would also play a significant role in bilateral trade.
Iranian Finance and Economic Affairs Minister Masoud Karbasian earlier told Trend that the sides are discussing the possibilities of forming an independent bank in order to facilitate financial ties between the two countries, as well as using national currencies in the bilateral trade.
Azerbaijan’s trade turnover with Iran amounted to almost $229 million in January-November 2017, more than $213 million of which accounted for the import of Iranian products, according to Azerbaijani State Customs Committee.