Iran, Australia Discuss Expansion of Banking Cooperation

High-ranking Iranian and Australian officials in a meeting in Tehran on Tuesday conferred on ways to further develop banking ties and cooperation between the two countries despite the US sanctions.

The meeting was held between Deputy Governor of the Central Bank of Iran (CBI) Akbar Komeijani and Australian Ambassador to Tehran Ian Biggs.

Komeijani, for his part, described monetary and banking relations as the first step to develop trade ties, and said, "Iran and Australia enjoy the necessary economic capacities and banking and trade relations and therefore, we can be hopeful about expansion of cooperation in different fields between the two countries."

During the meeting, Biggs stressed efforts to further improve ties with Iran, and said, "The financial relations between the two countries is not satisfactory yet and the volume of trade ties is needed to increase."

At the end of the meeting, the two sides decided that a series of bilateral meetings be held between the two countries' central bank governors and economy, industry and agricultural ministers to find ways to use financial channels within the framework of the international laws and in line with the expansion of economic relations.

In relevant remarks in January, Biggs had underlined the need for using the potentials and capacities existing for the further expansion of ties and cooperation between Tehran and Canberra.

"Hormozgan province (in Southern Iran) enjoys many capacities for mutual cooperation between Iran and Australia and it can play an effective role in facilitating the trade relations between the two countries," Biggs said in a meeting with Governor-General of Hormozgan province Fereidoun Hemmati in Bandar Abbas.

He added that fish breeding is one of the strong points of Hormozgan province which could serve as a good ground for mutual cooperation given Australia's capabilities in this field.

Biggs also said that nearly 100,000 Iranian nationals live in Australia and 3,000 Iranian students are admitted by his country's universities annually, adding that the capacity should be used to further broaden ties.

Australian officials have reiterated that they would keep on interacting with Iran despite the re-imposition of the US sanctions against Tehran.

"The current conditions surrounding the JCPOA have created problems for multilateral exchanges, but the Australian government will keep up its interaction with Iran," Director General of Australian Foreign Ministry’s Multilateral Policies Justin Lee said in a meeting with Head of Iran-Australia Parliamentary Friendship Group Mahmoud Sadeqi in Tehran last August.

The Australian official also criticized the US for withdrawing from the nuclear agreement with Tehran.