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Iran-China sign commercial letter of understanding

TEHRAN, Dec. 17 (ISNA)-Chinese banks and Iranian businessmen reached an agreement over eliminating of banking restrictions.

During Iran's business delegations trip to China, Iranian businessmen and China's biggest financial association signed a mutual commercial letter of understanding which is to be put into practice soon.

Following imposed banking restrictions, the joint Iran-China chamber of commerce dispatched a number of business delegations to Beijing, Shanghai and Hong Kong and some constructive talks were held.

This team also held some fruitful negotiations with 10 banks of the Far East and signed some letter of understandings leading to the elimination of banking problems within following weeks.

The private section's business delegation has been dispatched to Russia to take part in Tehran-Moscow joint commission and study ways for raising volume of exchanges.

Volume of exchanges between these two countries has been increased up to over 2 billion dollars in latest 8 months and the amount of exports has been raised by 30 percent.

... Payvand News - 12/17/07 ... --

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