IRAN, BULGARIA TO BROADEN BANKING, TRADE COOPERATION

Views on BG | January 7, 2002, Monday // 00:00

Abstracted from Tehran Times

TEHRAN -- Visiting Bulgarian Deputy Minister of Economy Lubka Katchakova met here on Sunday with the Managing Director of Export Promotion Bank of Iran Norouz Kohzadi and signed a memorandum of understanding (MOU) on expansion of banking and trade cooperation between the two countries.

Speaking to IRNA, Kohzadi said that according to the MOU, the two sides will henceforth exchange commercial information.

The two countries will expand cooperation in the field of insurance risk coverage, he said.

It was agreed that the two sides to conduct market research on new products and try to create grounds for presentation of new products in the markets at competitive prices, he said.

Referring to Bulgaria's accession to the World Trade Organization (WTO), he called the Bulgarian officials to help moderate their tariff for Iranian goods in their markets, he said.

The Bulgarian deputy economy minister, for her part, voiced her country's readiness to meet the financial credits in the form of usance for Bulgarian products destined for the Islamic Republic of Iran.

She concluded by calling for further expansion of banking cooperation between Iran and Bulgaria, IRNA reported.

Katchakova also voiced Sofia's interest in diversifying trade ties with Tehran, and called for launching joint investment projects with the Islamic Republic.

In a meeting with deputy chief of International Affairs Department of Iran's Chamber of Commerce, Industries and Mines Fereydoun Entezari, the Bulgarian deputy minister stressed the need to launch joint investments in such areas as manufacturing industrial and agricultural machinery, chemicals, food industry and the spinning technology.

Entezari, for his part, voiced interest to make joint investments with Bulgaria to help push forward Iran's Third Five-Year National Economic Development Plan (March 21, 2000-2005), and said Tehran would welcome any proposal from Sofia to launch projects in third countries, including Afghanistan.

Katchakova is visiting Tehran as part of a ranking delegation headed by the Bulgarian Foreign Minister Solomon Passy which arrived in Tehran Friday evening for a two-day state visit.

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