Iranian Rial

[screwball]

Minister: Iran Ready to Broaden Economic Relations with EU

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TEHRAN (FNA)- Minister of Economy Ali Tayyebnia reiterated that the conditions are set for boosting trade and economic cooperation between Iran and European countries.

"Iran is committed to broaden ties with European Union," Tayyebnia said in a meeting with French Finance Minister Michel Sapin in Washington on Sunday.

The Iranian economy minister, meantime, called on the western countries to provide brokerage services to the Iranian banks as per their commitments in the Joint Comprehensive Plan of Action (JCPOA).

"Iran and France have a lot of capacities for mutual cooperation; France is a big country that can use its influence for removal of US-imposed restrictions on Iranian banks," he added.

In late September, Iranian President Hassan Rouhani in a meeting with his French counterpart François Hollande in New York called on the European leaders to persuade their banks and insurance companies to do business with Iran.

"We should not allow a weakening of the achievements of the nuclear agreement reached between Iran and the six world powers (the US, Russia, China, France, Britain and Germany), and all sides need to remain committed to the full implementation of their undertakings," Rouhani said at the meeting held on the sidelines of the 71st UN General Assembly meeting in New York.

The Iranian president reiterated that the European leaders should provide assurance to banks and insurance companies to convince them to reestablish financial cooperation with Iran.

"Iran attaches importance to the development of relations with France and no hurdle can mar expansion of economic, scientific, technical and political relations between the two countries," he added.

He said all countries should take advantage of the situation created after the implementation of the Joint Comprehensive Plan of Action in favor of their nations in the economic and technological sectors.

The French president, for his part, called for the expansion of Tehran-Paris relations in all fields, and said, "The current situation created by the JCOPA should be heeded to broaden the relations between the two nations and all parties are required to remain committed to their pledges under the nuclear accord."

 

 

 

 

[screwball]

DNB ASA, Norway's largest bank, is set to start cooperating with Iran, said Norway's Foreign Minister Borge Brende, in a meeting with Ali Tayyebnia, the economy minister, on the sidelines of IMF annual meeting in Washington.

He added that the Norwegian government will encourage banks and financial institutions to start working with Iran, the ministry ofeconomy news service reported on Sunday.

He also added that Norway has opened a one- billion-dollar credit line for trade with Iran, $400 million of which has been used for exporting high- tech products. The credit line was granted to lran, earlier in August during Brende's visitto Tehran. Tayyebnia also called for measures to help ease two-way trade.

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[Freedomwish]

22 hours ago, screwball said:

He said the differential between the official rate of the rial and the market rate is now 14% and predicted it would shrink further. A “big bulk of goods which were purchased using the official rate are now being traded using the market rate,” Tayebnia said. “In the course of the next two months, the share of the official exchange rate [in trading goods] will be zero. We are very smoothly and gradually doing that reunification without having lots of rhetoric and propaganda about it.”

Read more: http://www.al-monitor.com/pulse/originals/2016/10/iran-finance-minister-resilient-economy-sanctions-investment.html#ixzz4MedLyKjP

Who else here besides me believe someone unconsciously or apparently just let the cat out of the bag?!!! 

[Freedomwish]

22 hours ago, screwball said:

Edited October 11, 2016 by Freedomwish

[millionaire in training]

1 hour ago, Freedomwish said:

Who else here besides me believe someone unconsciously or apparently just let the cat out of the bag?!!! 

Yes FW. It does look that way. Good article lets hope they know something that we don't.  

[screwball]

3 minutes ago, millionaire in training said:

Yes FW. It does look that way. Good article lets hope they know something that we don't.  

It is the second time he has given the 2-3 month time frame, and seams to be urgency about r establishing baking links with a number of countries quickly so let's hope! And pray!m

[screwball]

At.east we don't need a guru o give us a time frame, iran is pretty good at it! 

[screwball]

In the currency market all major currencies were lower against IRR reflecting investors confidence in the future of the market. It is believed the Central Bank of Iran will introduce a single rate policy for all major currencies within the next six months along with a regulated currency market in which all investors can hedge against all major currencies. It is believed this will be arranged through the existing stock brokers. 

 

found in in this document...http://en.danabroker.com/Portals/1/weekly market report 17th feb. 2016.pdf

[screwball]

France urges US to resolve Iran’s banking barriers

News ID: 3791989 - Mon 10 October 2016 - 10:23

Economy

TEHRAN, Oct. 10 (MNA) – France finance minister said his country is holding talks with the US to provide grounds for expansion of Tehran-Paris banking ties.

Speaking with his French counterpart Michel Sapin on the sidelines of World Bank-IMF Annual Meetings 2016 in Washington DC., Iran’s Economy Minister Ali Tayebnia pointed to the country’s serious determination to boost relations with European states emphasizing “European sides are required to meet obligations under the Joint Comprehensive Plan of Action (JCPOA) and run broker relations with Iranian banks as a prerequisite to development of trade and cooperation.”

Tayebnia referred to the government’s achievements in reducing reliance on oil revenues as well as in making various investments and achieving economic stability asserting “given the imposed limitations by the US, major countries like France could help remove the barriers to the interest of all parties.”

He outlined Iran as the pioneer of the fight against terrorism emphasizing “undoubtedly, bolstering of international economic relations and poverty reduction remain as primary means of fighting violence and terrorism.”

France's Finance Minister Michel Sapin, for his part, said his country holds cooperation with Iran in automotive, oil, gas and air transport areas while further collaborations are welcomed.

The official suggested elevation of trade turnover as a way of reinvigorating ties; “in the banking sector, France is conducting negotiations with Americans.”

He expressed hope that grounds will be prepared for strengthening banking relation between Iranian and European banks similar to the case of Iran’s purchase of Boeing aircraft which was coordinated by the US.

“We feel strongly committed to JCPOA obligations and existing problems would not interfere with France’s determination in this regard,” Sapin continued.

In a separate meeting, Iran’s Tayebnia met and talked with Lilianne Ploumen, Minister for Foreign Trade and Development Cooperation of the Netherlands.

During the meeting, the Iranian noted that ties between Iran and the Netherlands should not be restricted to the energy sector as it can be expanded to areas like agriculture or financing.

The official recalled earlier negotiations between officials of the two sides saying “the Netherland’s initiative to deepen relations with Iran is a sign its serious political determination and excellent opportunities exist especially in the field of technical knowledge transfer.”

Tayebnia also suggested formation of a joint working group in line with expansion of collaborations which was welcomed by the Dutch side.

Iran’s economy minister went on to enumerate several venues for joint cooperation between the two countries including banking and insurance activities as well as allocation of credit lines.

Also at the meeting, Lilianne Ploumen of the Netherlands touched upon Iran’s strategic position and its effective role in regional developments; “Iran is able to make a trustworthy trade partner for the Netherlands similar to the past.”

He underscored that his country’s willingness to develop cooperation with Iran is a serious intention rather than a mere diplomatic gesture; “accordingly, the Dutch government is preparing major proposals in various arenas.”

He called for immediate action, smart planning and alleviation of remaining obstacles arose from the sanctions as gateways to operational phase of bilateral economic cooperation.

 

HA/3791755

 

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Related News

• Norway opens credit line to Iran
• Economic Resistance key to Iran’s success in oil crisis
• Tayebnia mulls over banking ties with counterparts
• Tayebnia calls for implementation of Iran-China deals
• Iran, Germany ink 10 MoUs

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[screwball]

He called for immediate action, smart planning and alleviation of remaining obstacles arose from the sanctions as gateways to operational phase of bilateral economic cooperation.

[screwball]

News ID: 3791012 - Sun 9 October 2016 - 10:48

Economy

TEHRAN, Oct. 09 (MNA) – Iran’s Economy Minister Tayebnia met with Turkish, Italian and Indian counterparts on the sidelines of World Bank-IMF Annual Meetings 2016 in Washington DC.

The 2016 Annual Meetings of the Boards of Governors of the IMF and the World Bank Group was held in Washington DC., during the week of October 3-9 and, on the sidelines of the event, Iran’s Tayebnia held separate meetings with economy ministers of a number of countries investigating banking and customs challenges faced by Iran.

Speaking at a meeting with Mehmet Şimşek, Turkey's Deputy Prime Minister for Economic Affairs, the Iranian economy minister pointed to the recent developments and ending of sanctions calling for expediting expansion of bilateral economic ties.

Tayebnia further emphasized the need to boost banking relations between Tehran and Ankara adding “Iran’s banking system is ready to elevate broker relations with Turkish banks and we hope newly-reached agreements would facilitate the cooperation process.”

Tayebnia went on to point to previous suitable bilateral cooperation in the field of cross-border trade between the two sides voicing Iran’s readiness to enhance trade ties with Turkey on road to creating a common customs gate in order to provide a fundamental change in the bilateral trade.

He criticized the long lines of trucks at joint borders of Iran and Turkey for customs affairs noting that Iran has previously shown in practice its preparedness to completely eliminate existing problems.

Turkish Finance Minister Mehmet Şimşek, for his part, referred to good and developing cultural and political relations between the two parties appreciating the positive look held by the Iranian government towards expansion of bilateral ties though the current trade turnover between Tehran and Ankara is far from satisfactory.

He welcomed the initiative to develop customs and trade cooperation expressing Turkey’s readiness to taking effective steps in this regard.

At the end of his remarks, Şimşek voiced Ankara’s readiness to share fruitful experiences in attracting private sector investment in projects and stressed that grounds have been provided for a number of major Turkish banks to develop their cooperation with Iranian banks.

Pier Carlo Padoan, Minister of Economy and Finance of Italy, also at a meeting with Iran’s Tayebnia expressed his willingness to make a visit to Tehran in near future in order to finalize monetary and banking agreements.

“Italy believes in meeting obligations and enhancing ties with Iran,” noted Padoan underscoring that no effort will be spared in this regard.

The official said Italian firms and banks are determined to reinvigorate bilateral relations.

Iran’s economy minister, for his part, criticized the slow fulfillment of obligations on the part of the West calling for expansion of ties between world and Iranian banks.

He commented that bolstering of relations with Iran would benefit all countries; “security and stability could never be boosted in the absence of Iran.”

“In the wake of the post-JCPOA era, collective will need to be directed to implementation of agreements,” he continued.

He later stressed that Iran considers foreign proposals in view of current conditions with an emphasis on science and technology transfer; “Italians are eager to collaborate with Iran while they need to take more serious measures to remove persisting barriers.”

In yet another meeting with his Indian counterpart Arun Jaitley, Iran’s Ali Tayebnia emphasized the need for continuous transfer of the funds from the sale of oil to the South Asian country.

The official deemed launching of broker relations as Iran’s top priority; “despite constructive talks, no resolution has been achieved to resume these relations.”

Also at the meeting, the Indian finance minister highlighted that India is still committed to the oil fund transfer plan.

 

HA/3790906/3790561

[screwball]

on the sidelines of the event, Iran’s Tayebnia held separate meetings with economy ministers of a number of countries investigating banking and customs challenges faced by Iran.

[screwball]

the Iranian economy minister pointed to the recent developments and ending of sanctions calling for expediting expansion of bilateral economic ties.

[screwball]

Minister: Iran ready to broaden economic relations with EU

TEHRAN (FNA)- Minister of Economy Ali Tayyebnia reiterated that the conditions are set for boosting trade and economic cooperation between Iran and European countries.

“Iran is committed to broaden ties with European Union,” Tayyebnia said in a meeting with French Finance Minister Michel Sapin in Washington on Sunday.

The Iranian economy minister, meantime, called on the western countries to provide brokerage services to the Iranian banks as per their commitments in the Joint Comprehensive Plan of Action (JCPOA).

“Iran and France have a lot of capacities for mutual cooperation; France is a big country that can use its influence for removal of US-imposed restrictions on Iranian banks,” he added.

In late September, Iranian President Hassan Rouhani in a meeting with his French counterpart François Hollande in New York called on the European leaders to persuade their banks and insurance companies to do business with Iran.

“We should not allow a weakening of the achievements of the nuclear agreement reached between Iran and the six world powers (the US, Russia, China, France, Britain and Germany), and all sides need to remain committed to the full implementation of their undertakings,” Rouhani said at the meeting held on the sidelines of the 71st UN General Assembly meeting in New York.

The Iranian president reiterated that the European leaders should provide assurance to banks and insurance companies to convince them to reestablish financial cooperation with Iran.

“Iran attaches importance to the development of relations with France and no hurdle can mar expansion of economic, scientific, technical and political relations between the two countries,” he added.

He said all countries should take advantage of the situation created after the implementation of the Joint Comprehensive Plan of Action in favor of their nations in the economic and technological sectors.

The French president, for his part, called for the expansion of Tehran-Paris relations in all fields, and said, “The current situation created by the JCOPA should be heeded to broaden the relations between the two nations and all parties are required to remain committed to their pledges under the nuclear accord.”

[screwball]

conditions are set for boosting trade and economic cooperation between Iran and European countries.

[screwball]

Not while you have a single rate! 

[screwball]

TEHRAN (FNA)- Iranian Parliament Speaker Ali Larijani announced that the country has attracted more than $60bln of foreign investment after implementation of the last year nuclear deal between Tehran and the world powers and the removal of sanctions.

"Over $60bln (of investment) has come (to Iran) from other states, including Russia, which can be used for the country's development," Larijani said in the Central city of Isfahan on Monday.

Minister of Industries, Mines and Trade Mohammad Reza Nematzadeh announced in July that the Iranian and foreign banks have signed tens of Memoranda of Understanding (MoUs).

"Our banks have signed 35 MoUs with foreign banks and we have inked over 215 investment agreements," Nematzadeh said, addressing a ceremony held on the occasion of Iran's National Day of Industry.

He noted that the Scandinavian countries have opened letters of credit (LCs) for Iranian producers.

"During the visits I had with Korean officials, it was announced that Iran is not just a market for their products, but they have to invest and transfer technology if they want to remain in Iranian market," Nematzadeh added.

Also, earlier this month, Nematzadeh said that Iran's industry has over attracted 1.5 billion dollars in investments in the past six months.

Nematzadeh told a press conference on the occasion of Government Week that since the 11th administration came in office, more than three billion dollars in investment has been attracted by the industry, mines and trade sectors.

 

 

 

 

 

[gregp]

Thank you, for all the time you spend bringing us daily news!! Much appreciated!!

[pokerplayer]

8 hours ago, Freedomwish said:

Who else here besides me believe someone unconsciously or apparently just let the cat out of the bag?!!! 

I believe so as well FW. Iran is moving at warp speed to entrench trading partners across the globe !! I honestly believe they have given up on their nuclear ambitions and are now concentrating on be a global Influence in the middle east and taking the lead away from Saudi Arabia.

  JMO, but if makes us all filthy rich, giver' I say.

pp

[pokerplayer]

I think I will try and contact Custom's Canada this week and get the facts on what is required in order to cash in our Investment after a rate change and not have to worry about legal ramification's. I will specifically ask about people outside the country as well as I am sure it will be different requirements than for me as I'm all ready a citizen.

Will keep everyone posted.

As they say, a bird in the hand............

pp

[WheresmyRV?]

10 hours ago, Freedomwish said:

Who else here besides me believe someone unconsciously or apparently just let the cat out of the bag?!!! 

I tell you what, I am way more excited about the rial than I am of the dinar at this point.  It really looks that this will be over by the end of this year!

[WheresmyRV?]

1 hour ago, pokerplayer said:

I think I will try and contact Custom's Canada this week and get the facts on what is required in order to cash in our Investment after a rate change and not have to worry about legal ramification's. I will specifically ask about people outside the country as well as I am sure it will be different requirements than for me as I'm all ready a citizen.

Will keep everyone posted.

As they say, a bird in the hand............

pp

Thank you PP for keeping us posted on this!

[pokerplayer]

1 minute ago, WheresmyRV? said:

Thank you PP for keeping us posted on this!

Your welcome. The way I look at it is I win, we all win !!

pp

[pokerplayer]

27 minutes ago, WheresmyRV? said:

Thank you PP for keeping us posted on this!

The last time I dealt with Canada Customs by phone with regards to the Dinar I was 6, yes 6 !! Hours on the phone. If that happens again I will looking to collect alot of umbrellas were ever we cash out at and party !! 

pp

 

[jaman]

I'm glad they don't have a boner button..i'd look silly with ONE BIG ONE