In a meeting between Indian envoy to Tehran and head of Iran Chamber of Commerce, the two sides finalized talks on ratification of preferential tariffs on specific equipment needed for implementation of Iranian Chabahar Port project, Trend with reference to Mehr reports.
In this meeting, as well as development of mutual trade ties, the two sides finalized talks on ratification of preferential tariffs on specific equipment needed for implementation of Iranian Chabahar Port project besides financing supply of required machinery for the project, which is located on Iran’s coast along the Gulf of Oman and is backed by India to provide an alternative trade route between India and Afghanistan.
“Monetary and banking transactions have slowed down the implementation of Chabahar project but thanks to the held talks between Indian FM and with American officials and the US waivers, we are hopeful that the required machinery and equipment will arrive in Chabahar within one or two years,” the Indian envoy Gaddam Dharmendra said.
“Due to US sanctions, we are faced with some difficulties with purchasing Iranian oil, while two of Indian refineries are constructed to refine Iranian oil,” Dharmendra said, “The two refineries are running with low profit margin, presently."
He proposed that the Indian embassy in Tehran can prepare a list of Iranian products for the Indian market to ease exchange of goods between the two countries.
Gholamhossein Shafei, the chairman of Iran's Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), for his part, underlined that Iran and India have to do their best not to let their mutual ties be undermined by the cruel US sanctions.
He also described that one of the barriers on the way of developing bilateral commercial ties is that Indian banks demand guarantees from Iranian tradesmen. He announced readiness of Exports Guarantee Fund of Iran for issuing the required guarantees.