BELARUS NEWS AND ANALYSIS

DATE:

18/08/2007

Iran opens a bank in Belarus

Iranian bank will be established in Belarus in the next three months

(IANA) - "The rest of prior commissions' bylaws in the entente memorandum of Iran and Belarus will be completed in order to facilitate the commercial relations of the two countries," said Dr. Seyye Masoud Mir Kazemi, the Minister of Trade.

"One of these issues is the subject of construction and initiation of Iranian bank in Belarus that will be fulfilled until the next three months," he continued.

"Some of bylaws regarding Customs and Standard Association were uncompleted that will be completed within the next two months," added Dr. Mir Kazemi.

"Signing this entente memorandum will start investment in the fields Agriculture, Petroleum, Gas, Cement, Automobile manufacturing, establishing various factories and making commercial and residential centers with seed money of 1.5 Billion Dollars," he stated.

"This memorandum is a very comprehensive and expanded document of organizing common affairs of the two countries in various fields such as Automobile manufacturing, Road construction, Agriculture and other industrial fields," said the Minister of Industry of Belarus regarding his own evaluation of the signed entente memorandum.

"Considering the emphasize of the presidents of the two countries on lifting the commercial transactions up to One Billion Dollars, execution of mentioned bylaws with cooperation of various companies of Private Sector will fasten the fulfillment of this goal ," stated the Minister of Industry of Belarus.

"Currently the value of these countries projects is over 1.5 Billion Dollars and we hope that the utilization of them will be started in near future," he continued.

Reported By: Ameneh Hekmat

Translated By: Aref Mohammadzadeh

Source:

http://www.iananews.com/english/details.aspx?id=632