BAKU, Azerbaijan, August 6. Iran wants to
resume the activities of a joint trade working group with India as
part of efforts to expand economic ties between the two countries,
an Iranian official said.
Iran's Deputy Industry, Mining and Trade Minister for Trade
Affairs Mohammad Sadegh Mofatteh made the remarks during a meeting
with India's Deputy Minister of Commerce and Industry Amardeep
Singh Bhatia, according to Iran's Ministry of Industry, Mining and
Trade.
Mofatteh said the working group held three rounds of meetings
before 2015 and played a constructive role in developing bilateral
trade. However, its activities were suspended in 2015 due to
sanctions.
"The working group will be headed by deputy ministers
responsible for industry and trade from both countries. Its revival
could help remove obstacles hindering trade turnover between Iran
and India," Mofatteh said.
He added that expanding services provided by India's UCO Bank to
Iranian businesses is important. Increased activity by the bank in
this area could contribute to stronger trade ties between the two
countries and boost Iran's exports to India.
Mofatteh said UCO Bank could accelerate services for Iranian
businesses in the industrial, mining, electricity, construction and
services sectors through transactions in Indian rupees.
The deputy minister also highlighted the importance of
establishing a regular shipping route between Indian ports and
Iran's Chabahar port. He said such a route could play a key role in
developing Chabahar and help create the necessary infrastructure to
attract investment.
"There has so far been no regular shipping route between
Chabahar and Indian ports. The only existing route is operated by
Iran's shipping sector and is not regular. Establishing a weekly or
biweekly service could support the development of the port and help
attract investment," Mofatteh said.
