Iraqi Deputy Foreign Minister Hamed Al-Bayati said Monday that his country's central bank has authorized three Iranian banks to open branches in Iraq, Iran Daily reported Tuesday.
Al-Bayati added that the Iranian banks would be allowed to operate in Iraq after depositing a certain amount with the provisional government. Al-Bayati said he hoped more Iranian banks would be authorized to open branches in his country, the daily added.
Noting that the customs duty imposed in Iraq is a mere five
percent, Al-Bayati said this could be a positive factor for trade between the two neighboring countries.
According to the daily, Al-Bayati also pointed out that Tehran and Baghdad have a major cooeperation in the steel sector. (menareport.com)
© 2004 Mena Report (www.menareport.com)
