Breaking News
 |  | 

General

Iran’s FM in India to promote trade relations with New Delhi

Iran's Foreign Minister Mohammad Javad Zarif has arrived in India, heading a high-ranking political and economic delegation, to push for the promotion of trade ties between the two countries and address an annual international conference in the Indian capital.

According to IRNA on Monday, the Iranian top diplomat is accompanied in his trip by senior executives from scores of Iran's public and private companies.

Zarif will also deliver a speech at the annual Raisina Dialogue during his three-day stay in the Indian capital.

The annual Raisina Dialogue is a multilateral conference held by India's Observer Research Foundation (ORF) to address the challenging issues of the international community.

Zarif is also slated to attend a trade meeting sponsored by the Confederation of Indian Industry (CII).

Upon his arrival at the New Delhi airport, Zarif told reporters that Iran and India had good relations even after re-imposition of US sanctions, adding, We have a good banking agreement with Indians, which was signed this fall and after [re-imposition] of sanctions, and this agreement allows our country to continue both exports and imports while meeting its financial needs.

The Iranian top diplomat stated that there are many good opportunities for the expansion of relations between Iran and India, including for the development of Iran's southeastern Chabahar port, noting that Indians are interested in taking part in the Chabahar development project and other projects related to Iran's transit infrastructure.

He added that active presence of Iran's private sector among his accompanying delegation showed the sector's interest in taking advantage of these opportunities to promote relations between the two countries.

Zarif also emphasized that Iran has been, and will continue to be a reliable supplier of crude oil to India.

This is not Zarif's first trip to India. The Iranian foreign minister also paid another visit to New Delhi in May 2018 to expand trade ties with India after the United States reinstated its anti-Iran sanctions following Washington's withdrawal from a multilateral nuclear deal with the Islamic Republic, which is officially called the Joint Comprehensive Plan of Action (JCPOA).

Under the deal, reached between Iran and six major powers -- the United States, Britain, France, Germany, Russia and China -- Tehran agreed to put limits on its nuclear program in exchange for the removal of nuclear-related sanctions.

US President Donald Trump withdrew his country in May from the landmark Iran nuclear deal and decided to re-impose unilateral sanctions against Tehran.

Iran and the 28-nation European Union have been discussing various ways to continue doing business with Iran and bypass US sanctions.

On September 24, Iran and its five partners released a joint statementannouncing the setting up of a Special Purpose Vehicle (SPV) to facilitate continued trade with Iran, bypass the US financial system, and avoid any impact of America's secondary sanctions.

EU foreign policy chief Federica Mogherini said in December 10 that the bloc will establish a mechanism to facilitate non-dollar transactions with Iran in the near future in an attempt to circumvent sanctions imposed by the United States against Tehran.

Source: Press TV


The iran News Gazette is mainly concerned with news and information about the Arab region and also covers international issues. Its main objective is to provide reliable and verified information on the Arab region for publishing on the digital landscape.