TEHRAN- Raiffeisen Bank International (RBI), as one of the major banks in Austria, plans to open a branch in Iran, Austrian Ambassador to Iran Friedrich Stift announced on Saturday.

He made the remarks in Tehran on the sidelines of a meeting between the director of Iran’s Trade Promotion Organization, Mojtaba Khosrotaj, and the second president of the Austrian National Council, Karlheinz Kopf, Tasnim news agency reported.

Stift underscored that Austria Import-Export Bank will secure trade with the Islamic Republic, adding that the bank increased its line of credit up to $1 billion from its previous level of $230 million following the recent visit paid by the governor of the Central Bank of Iran to Austria.

During this meeting, Khosrotaj admitted that Iran is decisive to improve its trade balance with Austria and provide suitable business environment for further cooperation.

The Iranian official, elsewhere, called on Austrian companies to collaborate with Iran in development of its technological know-how.

“Technological and academic cooperation between Iran and Austria is on the course of being expanded and hopes are high for further cooperation in tourism,” he added.

Kopf, for his part, asserted that the post-sanction era has provided good chances for both sides to boost their bilateral ties.

HJ/MA/MG