TEHRAN (ECOIDEAL)- Two major Iranian and Russian banks signed an agreement to boost trade exchanges between the two countries in the near future.
The agreement was signed between Export Development Bank of Iran (EDBI) and Moscow MirBusiness Bank on Sunday.
EDPB and Moscow MirBusiness Bank signed contract worth €10 million; the agreement will help Iran to pay for imports of staple goods, medical equipment and raw materials needed for the production units.
The signed treaty focuses on a short-term refinance cooperation between Iran and Russia to promote imports of necessary goods.
Iran will pay 2.5 percent for interest rate of the facilities to Moscow MirBusiness Bank, according to the agreement.
According to the contract, paying will be restricted to purchases from Russia and other member-states of Commonwealth of Independent States and exports from these countries should be destined only for Iran.
Source: Farsnews