Senior business leaders from Iran and Sri Lanka met on the sidelines of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) to discuss ways to boost bilateral trade and economic cooperation.
Iran has agreed to import tea from Sri Lanka to settle an old debt owed by the country for imports of oil from Iran.
Sri Lanka is likely to sign a deal with Iran to sell its famed tea over the next two years in exchange for the settlement of loans obtained for the purchase of oil, Sunday Times reports.