Iran, Australia discuss expansion of banking cooperation

High-ranking Iranian and Australian officials in a meeting in Tehran on Tuesday conferred on ways to further develop banking ties and cooperation between the two countries despite the US sanctions.

The meeting was held between Deputy Governor of the Central Bank of Iran (CBI) Akbar Komeijani and Australian Ambassador to Tehran Ian Biggs.

Komeijani, for his part, described monetary and banking relations as the first step to develop trade ties, and said, "Iran and Australia enjoy the necessary economic capacities and banking and trade relations and therefore, we can be hopeful about expansion of cooperation in different fields between the two countries."

During the meeting, Biggs stressed efforts to further improve ties with Iran, and said, "The financial relations between the two countries is not satisfactory yet and the volume of trade ties is needed to increase."

At the end of the meeting, the two sides decided that a series of bilateral meetings be held between the two countries' central bank governors and economy, industry and agricultural ministers to find ways to use financial channels within the framework of the international laws and in line with the expansion of economic relations.

EA