Envoy urges setting up a joint bank between Iran, Kazakhstan

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Envoy urges setting up a joint bank between Iran, Kazakhstan

Speaking in a Conference of Economic Diplomacy between Iran and EAEU on Wed., Askhat Orazbay stated that unjust and unilateral sanctions imposed against Iran should be lifted.

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Setting up a joint bank between Iran and Kazakhstan as well as launching a bartering system between the two countries is mandatory, he added.

As long as sanctions are not lifted, the two countries should focus on the products that are not subject to sanctions, the envoy stipulated.

Turning to the adverse effects of sanctions, he said that sanctions have reduced volume of trade and business between the two countries extremely, he said, adding, “Under such circumstances, customs duties o the products that are not subject to sanctions should first be reduced and secondly, a bilateral trade agreement should be inked between the two countries regarding free trade zone, so that Kazakhstan welcomes the two options wholeheartedly.”

He lashed out at the lack of a banking system between Iran and Kazakhstan and reiterated, “Lack of an integrated banking system was one of the main problems between the two countries, so that it is proposed to set up a joint bank between Iran and Kazakhstan.”

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