MNA – An MP said the Parliament’s National Security and Foreign Policy Committee will hold a session later today with FM Zarif in attendance to discuss EU’s recently created trade mechanism for Iran.

Alireza Rahimi, a member of the Parliament’s National Security and Foreign Policy Committee, said the committee will hold a session on Monday afternoon to discuss INSTEX (Instrument for Supporting Trade Exchanges), and EU’s proposals for Iran.

He added that the session will also be attended by Foreign Minister Mohammad Javad Zarif, and deputy ministers of economy, industry, and representatives from the Central Bank of Iran.

Stressing the significance of the trade mechanism, he said “various issues have been raised in this regard, and Foreign Minister Zarif and deputies of economy ministry and the Central Bank will give explanations about the mechanism.”

France, Germany and the United Kingdom on Thursday issued a joint statement on the creation of INSTEX (Instrument for Supporting Trade Exchanges), a Special Purpose Vehicle aimed at facilitating legitimate trade between European economic operators and Iran, in a bid to bypass the US sanctions and convince Iran to remain in the nuclear deal following the US unilateral withdrawal from the agreement.

According to the statement, the mechanism will focus initially on the sectors most essential to the Iranian population – such as pharmaceutical, medical devices and agri-food goods, and will later expand to be open to economic operators from third countries who wish to trade with Iran.

Meanwhile, some Iranian MPs and officials have been critical about the possibility of EU setting conditions for Iran to implement the mechanism, such as Iran’s endorsement of the FATF-related bills or negotiations over the country’s missile program.