EGFI to Cover Iran’s Export Promotion to EAEU

Chairman of Board of Directors and Chief Executive of Export Guarantee Fund of Iran (EGFI) said that the Fund is ready to back and cover export promotion and investment of Iran in Eurasian Economic Union (EAEU)’s member states. Speaking in a meeting of Iran-EAEU Economic Diplomacy on Sat., Seyyed Abdollah Sajjadi pointed to the restriction of banking system of the country in brokerage relations with foreign banks due to the unjust and oppressive US sanctions imposed against the Islamic Republic of Iran and stated that issuance of mutual guarantee letters with the help of peer institutions is of the new strategies of EGFI in line with creation of security of foreign trade.

Of five Eurasian Economic Union (EAEU)’s member states except Kyrgyzstan, other countries of the Union have been equipped with the National Export Guarantee Fund, he said, and revealed the conclusion of a Memorandum of Understanding (MoU) between Export Guarantee Fund of Iran and Export Guarantee Fund of five member states of EAEU to facilitate trade and investment activity between Iran and Eurasia.

Elsewhere in his remarks, CEO of Export Guarantee Fund of Iran pointed to the allocation of US$800 million worth of fund for promoting export activity of the Islamic Republic of Iran with five EAEU’s member states including Russia, Kazakhstan, Armenia, Kyrgyzstan and Belarus and added, “Supporting and backing up export through coverage of Eurasia’s political and trade risks will be prioritized by the Fund.”

It should be noted that meeting of Iran-Eurasia Economic Diplomacy is being held with the participation of ambassadors of the country and diplomats of countries including Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan and also Iranian Minister of Energy (Water and Electricity) Reza Ardakanian, Head of Trade Promotion Organization of Iran (TPO) Hamid Zadboom and high-ranking economic officials. - Mehr