CBI negotiations with Qatar, UAE expected to bear positive results: expert

January 15, 2023 - 11:35

TEHRAN – Economic Expert and University Professor Vahid Shaqaqi, who was among the scholars accompanying the governor of the Central Bank of Iran (CBI) in his visits to Doha and Abu Dhabi, says the negotiations with the mentioned countries are expected to result in positive outcomes.

“The good thing about these talks is that the policies that the central bank has put on the agenda are clarified and ambiguities about Iran’s banking system are resolved,” Shaqaqi told IRIB on the sidelines of a meeting between CBI Governor Mohammadreza Farzin and the country’s economic experts on Sunday.

Farzin started his tenure with a tour of the Persian Gulf neighboring countries, aiming to expand monetary ties with the Islamic Republic’s major trade partners.

In early January, Farzin traveled to Doha on top of a specialized delegation to meet with his Qatari counterpart Sheikh Bandar bin Mohammed bin Saoud Al-Thani to discuss ways of developing monetary and banking cooperation between the two countries.

In the meeting, Farzin called for strengthening mutual ties and developing monetary and banking cooperation with the Arab neighbor.

Emphasizing the positive prospects of economic relations between Iran and Qatar, he said: “By increasing monetary and banking cooperation between the two countries, we will definitely achieve the goals set for Tehran-Doha economic relations.”

Al-Thani, for his part, emphasized the interest of the country to enhance banking and monetary ties with Iran, noting that the development of banking relations with the Islamic Republic of Iran is one of Qatar’s main priorities.

Iran’s Deputy Foreign Minister for Economic Diplomacy Mehdi Safari also accompanied the CBI governor on the trip.

Iran and Qatar have stressed preparing a roadmap to boost the value of trade between the two countries to three billion dollars by 2025.

In a meeting between Mohsen Rezaei, the Iranian vice president for economic affairs, and Qatar's Emir Sheikh Tamim Bin Hamad al-Thani in October 2022, the two sides discussed ways of expanding trade ties between the two countries and emphasized the need for taking the necessary measures to reach the mentioned economic goal.

After Doha, Farzin visited the United Arab Emirates (UAE) as his second foreign destination.

During this visit, the CBI governor met with UAE’s Deputy Prime Minister and Minister of Presidential Affairs Sheikh Mansour bin Zayed Al Nahyan and the Governor of the Central Bank of the UAE (CBUAE) Khaled Mohamed Balama.

The two sides discussed ways of strengthening bilateral relations between Iran and the UAE, especially in the financial and banking fields during the talks.

Iranian Deputy Foreign Minister for Economic Diplomacy Mehdi Safari also accompanied Farzin in his meeting with the UAE officials.

CBI portal previously reported that providing financial resources for the Iranian businessmen active in the UAE and technical monetary negotiations regarding the compatibility of the two countries’ currency and trade systems were also among the goals of Farzin’s visit to the UAE.


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