TEHRAN (ecoideal)- Turkey has proposed Iran to set up a joint bank to further promote economic and trade ties after the two countries agreed to remove the US dollar from their transactions.
Head of Iran-Turkey Business Council Umit Kiler proposed establishment of a joint bank in line with agreements on bilateral trade between the two neighboring nations using national currencies.
He described establishment of the joint bank following the Tehran trilateral summit as a move with "a complementary role" for the Iran-Turkey relations.
Governor of the Central Bank of Iran Abdolreza Hemmati announced earlier this month that Tehran, Moscow and Ankara had agreed to remove the US dollar from their transactions as part of efforts to broaden their trade relations to overcome Washington's mounting pressures.
"The agreement was made on the sidelines of a key trilateral summit on Syria held in Tehran (earlier this month) and attended by Iranian, Russian and Turkish presidents," Hemmati said.
He underlined that during the summit, "I along with Iranian oil minister (Bijan Zangeneh) held beneficial and constructive meetings with the economic officials of Russia and Turkey with the three presidents" in attendance.
Hemmati reiterated that the main topics discussed during the meetings included oil and gas prices, basic commodities sales, expansion of banking ties, conducting financial transactions by the countries’ national currencies instead of the US dollar and deepening of bilateral economic relations.
The CBI governor went on to say that he will follow up the agreements in a meeting with his Russian counterpart in Moscow in the near future.
The government of Iran has already announced plans to circumvent restrictions on accessing the US currency amid tensions with Washington.
Source: Farsnews