Afghan banks to open branches in Iran’s Chabahar port

February 21, 2020 - 14:50

TEHRAN – Iran has approved two Afghan banks to open branches in its southeastern strategic port of Chabahar, ILNA reported quoting the Secretary General of Iran-Afghanistan Joint Chamber of Commerce Mozafar Alikhani.

“Due to the strategic nature of the Chabahar port and being exempted from the U.S. sanctions, Iran has allowed two Afghan banks to establish branches in the port so that the two countries' businessmen could be able to use their facilities and services,” Alikhani said.

There are strong economic ties between the two countries in terms of cultural, linguistic and historical commonalities, and many of Afghan traders are familiar with the patterns of trade and consumption in Iran, he said.

“Iran currently supplies about 35 percent of Afghanistan’s total imports, apart from the technical-engineering, and educational services,” Alikhani added.

Mentioning the banking relations between the two countries, the official said: “The Central Bank of Afghanistan had earlier canceled Aryan Bank's license for activity in that country, but the bank has been re-licensed and is preparing to start operations in the near future.”

The neighbor Afghanistan is a major export destination of Iranian products, and as Iran is seriously pursuing the objective of boosting non-oil exports to its neighbors, making the exporters acquainted with this country’s markets is an agenda.

As reported by IRNA, the 8th Iran Trade Fair, which was held in Kabul from Tuesday until Friday, was warmly welcomed by the Afghan consumers.

According to Iran's Commercial Attaché to Afghanistan Javanmard Qassab, the two countries' trade exchanges currently stands at $3 billion.

EF/MA

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