TEHRAN – Switzerland and Iran discussed ways to expand bilateral ties between capital markets of the two countries.

A delegation led by Jörg Gasser, the state secretary for international financial matters at the Swiss Federal Department of Finance, met in Tehran with Shapour Mohammadi, the head of Iran’s Securities and Exchange Organization (SEO).

The meeting mainly focused on bolstering relations between SEO and Switzerland’s Financial Market Supervisory (FINMA) as the two countries’ capital market supervisory bodies, as well as improving cooperation between stock exchanges and mercantile exchanges as the operating bodies, IRIB reported on Monday.

Mohammadi voiced Iran’s readiness for exporting its products to Switzerland via the Iranian Mercantile Exchange.

The Swiss official, for his part, welcomed Iran’s suggestion for sharing knowledge on information technology and financial instruments.

He also expressed readiness to back Iran in improving its position in the International Organization of Securities Commissions (IOSCO) - an association of organizations that regulate the world’s securities and futures markets.

Iran became a member of IOSCO in April.

HJ/MA/MG