The ninth parliament of Iran’s private sector was officially sworn in on Sunday, pledging to play a more decisive role in the country’s economic decision-making and launch internal reforms.
Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) has put forward three specific proposals for the government to carry out a structural overhaul of its budget.
ICCIMA is the parliament of Iran’s private sector representatives, playing a consultative role in devising laws and regulations in the economic sector.
Ukrainian and Russian officials have separately called for the establishment of a trading house between their respective countries and Iran. A trading house could have various purposes but what Ukraine is proposing is much like Europe’s INSTEX to facilitate bilateral trade in the wake of US sanctions.
Kremlin has thrown its weight behind the EU’s efforts to boost trade with Iran in the wake of US sanctions. Brussels says it will bring the mechanism online before other members can join it.
Iran-German trade ties have seen recent downs due to the US sanctions but those measures haven’t stopped dozens of such companies to leave Iran altogehter.
The European trade channel with Iran is reaching its final stages as it’s processing several transactions and some European countries are thinking about buying Iranian oil to inject the revenues into the mechanism.
President of Iran-Spain Joint Chamber of Commerce Mohammad Taheri says INSTEX doesn’t include what Iran wants from Europe, that is purchase of Iranian crude, but it should be activated anyway.
Central Bank of Iran says oil sales are on the rise and that petrodollars are coming back much easier as Iran forays into various avenues to examine how to bypass the US sanctions.
The Iranian president has signed into law the free trade agreement with the Eurasian Economic Union (EAEU) after the law was passed by parliament.