TEHRAN- A 25-member trade delegation from Austria’s Vorarlberg Commerce Chamber met their Iranian counterparts and entrepreneurs in Tehran Chamber of Commerce, Industries, Mines, and Agriculture (TCCIMA) on Monday to discuss improvement of bilateral trade ties, the portal of TCCIMA reported.

During the meeting, Mehdi Jahangiri, the deputy head of TCCIMA, underscored both sides’ decisiveness in developing economic and technological ties of their private sectors.

“The value of trade between Iran and Austria stood at $324 million in 2015,” he said hoping that the figure will witness an upward trend in coming years via re-establishing and bolstering banking relations and founding representative offices in the other side’s free economic zones.

The Austrian delegation was led by Head of Austria’s Vorarlberg Commerce Chamber Helmut Steurer, who for his part, called for setting direct relations between Iranian and Austrian private firms in the held meeting. 

As reported on October 30, 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 in Tehran.
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.

HJ/MA