Iran proposes setting up joint bank with China http://www.tehrantimes.com/index_View.asp?code=240550

The director of the Trade Promotion Organization of Iran in a meeting with the Chinese ambassador in Tehran said that Iran and China can boost mutual trade by establishing a joint bank and using national currencies for their transactions. IRNA news agency quoted the TPOI director, Hamid Safdel, as saying that the two sides could create a joint trade committee at the ministerial level, and pointed out that the countries would be better off if they signed an MOU on trade and customs cooperation.He added that the two countries’ joint economic committee would help expand bank relations and ease opening letters of credit as well as establishing commercial firms.

[also see..Iran, China sign 6 industrial, mineral deals http://tehrantimes.com/index_View.asp?code=240378 .Chinese company head: Iran Oil Show 2011, successful http://www.irna.ir/ENNewsShow.aspx?NID=30342564&SRCH=1 Iran, China Ink Contract to Build World's Highest Double-Curvature Arc Dam http://english.farsnews.com/newstext.php?nn=8912230932

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