Iran’s Central Bank offers support to Sri Lanka to repay loans by exports to Iran

* Iran’s Central Bank offers support to Sri Lanka to repay loans by exports to Iran

Sat, Sep 25, 2021, 08:24 pm SL Time, ColomboPage News Desk, Sri Lanka.

Sept 25, Colombo: The governor of the Central Bank of Iran (CBI) Akbar Komeijani has said the bank is ready to provide necessary financial mechanisms for financing trade transactions between Iran and Sri Lanka, the Teheran Times reported according to the CBI portal.

“The expansion of trade and banking relations between Iran and Sri Lanka is possible based on the financing of exports and imports between the two countries and the provision of direct and indirect payment mechanisms,” the CBI Governor has remarked when Sri Lanka’s Energy Minister Udaya Gammanpila met him in Tehran on Saturday.

Minister Gammanpila and the Governor of Central Bank of Iran discussed the repayment of Sri Lanka’s loans by exporting commodities to Iran.

Welcoming the expansion of trade between the two countries and referring to the history of trade relations between Iran and Sri Lanka, the CBI Governor said Sri Lanka is expected to support Iran’s interests in international arenas as an independent country.

“Expanding trade relations and mutual exports and imports, as well as resolving financial issues between the two countries based on understandings and negotiations are on the agenda, and this meeting can be the first step for the development of trade and banking relations between the two countries,” Komeijani added emphasizing the Central Bank’s support for trade between the two countries.

The CBI governor suggested that a working group comprised of Sri Lankan and CBI experts, businessmen, and other economic actors be set up to provide ways to expand cooperation between the two countries and to resolve debt settlement issues.

The Sri Lankan official for his part expressed his country’s willingness for the expansion of cooperation with Iran despite the U.S. sanctions.

“Despite the limitations, we are interested in expanding mutual trade and using all available capacities to advance the interests of both parties; Sri Lanka welcomes all proposals and operational solutions in this regard,” he said.

The Sri Lankan official also welcomed the central bank’s proposals to increase trade cooperation and noted that Sri Lanka will be by Iran’s side in difficult international situations and will support its interests.

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