TEHRAN, Sept. 11 (Mehr News Agency) - Around 500 foreign and domestic companies have applied for joining the newly established Iranian Barter Market.
Launching the Iranian Barter Market has been made possible through making use of the expertise in the field from over 100 countries across the world, noted Alaeddin Khotaii, the managing director of Samin Ista Engineering and Trading Group (SIET). He said he predicted that the market would be capable of handling of up to 20 percent of the nation's business affairs.
It is over a month since the market was set up, he said adding that, all companies, factories and even legal entities would be able to become a member to the Iranian Barter Market and carry out their business activities there.
Transactions in the barter market are carried out through the bank drafts that are safe and convenient means for deals, he said.
There will be no franchise fees for the applications received by April 20, 2007, he commented.
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