The Central Bank of Iran has called on the German government to support closer collaboration between the two countries� banks, including Iran�s Middle East Bank, as a prerequisite for reestablishment of the once-prized commercial relations.

Ali Akbar Komeijani, CBI vice-governor, in a meeting with a delegation from Germany�s Bavaria state, noted that talks are underway with Euler Hermes over settlement of Iran�s debt, saying the issue would soon be resolved, the CBI website reported on Wednesday.

�The central bank has reached agreements with some major European trade insurance agencies like Sace, Coface and Okapi,� he said. �The Italian, French and Austrian governments support was very helpful in reaching the deals.�

Iran as a matter of policy has always met its financial commitments, according to Komeijani. �We have always paid our debt on time, even during economic hardship. However, European insurers are too hesitant in restoring relations with Iran," he complained.

The German delegation pledged to use its clout to facilitate trade with Iran, saying that small European banks and lenders had resumed business with Tehran in the aftermath of the July nuclear agreement and its implementation in January.

By Financial Tribune