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The fifth meeting of Economic Cooperation Organization (ECO) reference marine organizations kicked off on 6 March at the place of Iran’s Ports and Maritime organization (PMO) in Tehran Headed by ECO’s Secretary General, the gathering was attended by the representatives from all member nations Speaking in the meeting, Secretary General expressed the importance of cooperation between the member states in maritime sector, saying, “The main objective of this gathering is to […]

Iran to launch organized FOREX market this week Farhad Dejpasand (Iranian finance and economic affairs minister )said the mentioned market is due to set the real foreign currency exchange rates. Establishment of this market has been approved by the Money and Credit Council (MCC), the highest banking policy-making body of the Central Bank of Iran (CBI), on January 8 as the CBI aims to explore the real volume of demand

The value of domestically-made products exported from Iran’s free zones stood at $17 billion in the past Iranian calendar year (ended on March 20, 2019), according to an official with Iran’s Free Zones High Council. The official said that about 500,000 people are working in 1,700 production units in the country’s 7 free zones. And as previously announced by the secretary of Free Zones High Council, 2600 industrial, service and

Iran INSTEX Branch notice of establishment released in 29 April gazette Iran INSTEX Branch notice of establishment released in 29 April gazette as following: Company Name: Saz va Kar Vije Tejarat va Tamine Maliye Iran Va Europe Company type: Private joint Stuck Registration Number: 540240 National Number: 14008285716 Company subject: Doing all kind of business including to Export, Import, purchase, Sell, payment and clear services to natural persons and entities- internal

Iran to submit statement of defense in ICJ Iran to submit statement of defense, concerning  illegal sanctions against it by US, to international court of justice, announced by head of Central  International Legal Affairs on May 24. 3000 pages covering US, violating New York Treaty(1955), by setting further sanctions to Iran is composed by Iranian and International Attorneys and experts after 7 months of hard work. According to ICJ time table,

The Dutch government announced that it plans to join INSTEX to do business with Iran The Dutch government announced that it plans to join the financial mechanism of Instrument in Support of Trade Exchanges (INSTEX) to do business with the Islamic Republic of Iran. The Dutch government, in response to the Parliament questions about EU measures to counter the U.S. sanctions against Iran, wrote a letter to the leaders of the

Iranian President expressed satisfaction with Japan’s willingness for expansion of banking and economic ties with Iran and welcomed the Asian country’s contribution to the development of southeastern Chabahar Port. “Iran welcomes Japan’s cooperation and investment in the Chabahar port as well as the Makran region and is ready to attract Japanese investment,” Rouhani said during a meeting on Wednesday attended by high-ranking officials from both sides. In the meeting, the

Negotiations for monetary agreements are underway with several countries, Iranian Foreign Minister said on Sunday “The Foreign Ministry’s economic diplomacy department was established last year and despite sanctions, it has had successful performance during the period.” Elaborating on monetary agreements, Zarif said Iran has started talks with Turkey, Russia, China, Azerbaijan, India and several other countries over the issue, and has reached preliminary agreements with some of them. “The talks

The managing director of Iran’s Special Trade and Finance Instrument for trade with Europe (STFI), called SATMA in Persian, said the company is moving into the trial phase and is ready to operate in coordination with INSTEX. As reported by the portal of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), the official said that the company is currently trying to test the export and import payment and transfer

The British government has settled a 1.25 billion pounds ($1.6 billion) damages claim brought by Iran’s largest private bank in an 11th-hour, out-of-court deal following a dispute over sanctions. Bank Mellat, which is 20% owned by the Iranian government and 80% privately held, said on Tuesday the legal row had been resolved for an undisclosed sum on the first day of a trial to assess its damages at London’s High