Press Information Bureau

Government of India

Ministry of Finance

31-May-2011 19:33 IST

India and Iran hold detailed and Constructive Discussions on the Various Options for Resolving the Issues relating to Settlement of Payments; agreed to continue their Engagement in the Matter

India and Iran sides held detailed and constructive discussions for two days i.e. May 30-31, 2011 on the various options for resolving the issues relating to settlement of payments. Both the sides agreed to continue their engagement in the matter.

Earlier, a delegation from the Islamic Republic of Iran met with an inter-Ministerial delegation from India on May 30-31, 2011 to discuss issues relating to settlement of payments on account of bilateral trade between the two countries. The Indian delegation was led by Shri R. Gopalan, Secretary, Department of Economic Affairs. The Iranian delegation was led by HE Dr. Hamid Borhani, Deputy Governor of Central Bank of Islamic Republic of Iran.

DSM/SS/GN

Settlement of payments: bilateral engagement to explore procedural options and continue consultations on trade payment mechanisms. Settlement of payments between India and Iran was the focus of two days of detailed intergovernmental discussions exploring procedural and institutional options to resolve outstanding bilateral trade payment issues, with delegations from the Department of Economic Affairs and the Central Bank exchanging views on modalities and agreeing to continue consultations to finalize practical settlement arrangements.