The introduction of the single European currency, the euro, from 2001 offers a good opportunity for Iran to expand its trade and commercial activities in Europe, say Athens-based bankers.
“With the introduction of the euro, it will be easier for Iran to do business with Europe. There will be no conversion losses with the 12 European Monetary Union countries,” said Yousef Soleyman-nejad, Branch General manager of Bank Saderat in Athens.
Talking to IRNA on the occasion of Greece joining the single European currency in 2001, Soleyman-nejad said “It is advisable for Iran to consider to deal in euro with Europe.”
Andre Inglessis, Assistant Branch manager of Bank Saderat, said the single euro currency means stability in interest rates.
He said that Iran can make oil contracts in euros.
Inglessis said the euro also widens the horizon for expanding Greek-Iranian business.
“Greece is the first door of Europe for Iran. Iranian businessmen can open offices here and do business in Europe. Greece offers very good facilities,” Inglessis said.
Alexander Lekkas, Credit manager of Bank Saderat, noted that the northern Greek city of Thessaolonik is becoming the hub of Balkan businesses.
“There is a big opportunity for Iranian businessmen to form joint ventures with Greek firms in the Balkans,” he told IRNA.
Lekkas also stressed that euro makes easier for Iran to boost trade cooperation with Europe.
“There are now 12 European countries with which Iran can make business in euros and without making any loss in conversion rates,” he said.
In 1999, Iran exported about US$358 million of goods, mainly oil, to Greece and imported US$3.6 million of Greek products.
“There is much scope for expansion of Greek-Iranian trade, but there has to be a swifter response from the parties involved,” said Inglessis.
Turning to the activities of Bank Saderat Branch in Athens, Soleyman-nejad said the branch has expanded its international activities in other European countries like Germany, Romania and Cyprus.
The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.
