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Tejarat Bank is to establish a branch in Norway

Published on: 26/06/2017

According to Second Secretary for Economic Affairs with the Royal Norwegian Embassy in Tehran, Tejarat Bank, one of the major Iranian lenders, will open a branch in Norway in line with banking relations with the Scandinavian countries.

This was announced in a meeting with the international affairs deputy of Iran Chamber of Commerce, Industries, Mines and Agriculture.

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Banking ties is going to establish between Norwegian and Iranian banks soon. Tejarat Bank is one of the Iranian banks which is to open a branch in Norway, Martin Eide said.

He continued regarding banking relations, during his meeting with Mohammad Reza Karbasi, a number of agreements have agreed between parties and will be applied in the foreseeable future.

As stated by Mohammad Reza Karbasi Norway and Iran are similar in their economic structures since both countries’ main exports are oil, gas and petrochemical products and also the majority of their sectors run by the state.

He added we are very hopeful about Iran’s financial future and attempt to expand our business relations with Norway and between Iranian and Norwegian business people particularly in energy, fisheries, renewable energies, mining and shipbuilding industries. He pointed to the current volume of trade which increased in comparison with the previous year and said there is high potential for doing business and it needs to be expanded. 

According to ICCIMA member, they are optimistic about developing further cooperation between Iranian and Norwegian companies in private sectors by lifting obstacles in banking relations and evolving financial instruments.

The Iran Chamber of Commerce, Industries, Mines and Agriculture is to form a joint Iran-Norway chamber of commerce with the aim of overcoming difficulties and expanding economic ties, he said.

He continued that ICCIMA welcomes business and official delegations from Norway and is ready to organize economic forums for them. Also, Iranian business delegations willing to visit the Scandinavian nation.

Norwegian companies were officially invited by Karbasi to engage in Iran’s investments. Karbasi said ICCIMA will provide a list of various Iran’s projects and investments to the Norwegian embassy as well as other foreign embassies.

Eide expressed eagerness of Norwegian side to cooperate in investment projects of Iran as joint ventures and said they are willing to receive the mentioned list of various Iran’s projects and investments in order to explore investment and joint venture possibilities in Iran.

Martin Eide said the official and the Norwegian embassy in Tehran are trying to ease the visa issuance procedure for Iranian business people and progress has been made in this regard.

This subject has been emphasized previously by the ICCMA international affairs deputy. He pointed that this will improve the headway of trade between Iran and Norway.

Moreover, he proposed the idea of establishing a joint Iran-Norway economic commission.

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Source: Financial Tribune