Austria to expand ties with Iran

The Oberbank of Austria is going to open a credit line of one billion euro to finance investment projects in Iran, said Hans Jorg Schelling, the Minister of Finance of Austria.

The Austrian official who was visiting Tehran on July 11, was quoted by ISNA News Agency during a meeting with Iranian Minister of Finance, Ali Tayyebnia. He also pointed out that this will be used to develop collaboration between the two countries. Moreover, he affirmed the interest of some Austrian banks to increase cooperation with Iranian banks in a number of fields including establishment of brokerage relations.
The two ministers also agreed to sign Double Taxation Avoidance Agreement in near future in order to enhance customs collaborations under EU rules.




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