TEHRAN – Switzerland is going to launch a payment channel for Iran in mid-January 2019, which allows its companies to sell food, medicine and medical devices to the country, Sharif Nezam-Mafi, the chairman of Iran-Switzerland Joint Chamber of Commerce, announced.

He made the remarks in an interview conducted by Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) which was published on the portal of the chamber on Tuesday.

Nezam-Mafi said the Swiss Federal Department of Economic Affairs has been in talks with the U.S. and Iranian authorities, as well as Swiss companies and the initiative will probably be launched within three weeks.

“Launching a direct financial channel which is separate from the European Union indicates how much Switzerland is determined to maintain its trade relations with Iran”, he noted.

“60 percent of Iran's imports from Switzerland is comprised of food products and pharmaceuticals”, he added.

Switzerland, which is not an EU member and has a large pharmaceuticals sector and a tradition of neutral diplomacy, has strong credentials to be a base for such mechanisms.

According to the chairman of Iran-Switzerland Joint Chamber of Commerce, in the sanctions era Switzerland will play a vital role in providing food products and medicine for Iran.

EF/MA