India assures Iran of early payments, keen to sign DTAA, BIPA

Friday, February 25, 2011

NEW DELHI - Union Finance Minister Pranab Mukherjee has assured Iran that India would like to make the payment due to Iran as expeditiously as possible especially on account of oil and oil products.

Speaking at a bilateral meeting with his Iranian counterparts Dr. Seyyed Shamseddin Hooseini here, Mukherjee said in order to further improve and strengthen our financial and economic relationships, we are interested to expedite the finalization of Double Taxation Avoidance Agreement (DTAA) with Iran on priority.

“Besides, India is also interested to finalise and sign Bilateral Investment Protection Agreement (BIPA) with Iran in the near future which will further boost investment by the prospective investors from both the sides,” he added.

Mukherjee said that both the countries should work out a mechanism through which we could make arrangements for timely payment by removing the necessary bottlenecks. Mukherjee said that we want to implement the decisions taken in the 16th Session of Joint Commission of both the countries, which was held in last July in Delhi.

The Finance Minister further said that we want to diversify the commodity basket for trade beyond oil and petroleum products.

He asked his Iranian counterpart to impress upon his External Affairs counterpart to expedite the opening of Indian Cultural Centre in Iran which would further strengthen the people to people relationship and cultural ties between the two countries.

Speaking on the occasion, Dr. Hooseini said that Iran wants to further strengthen its relationship with India not only in field of culture but also in trade and commerce. He said that Iran is building relationship with Asian countries and India has a special place in it as we have historical relationship with India.

He assured Mukherjee that he would take up the issue with the concerned authorities to expedite the opening of Indian Cultural Centre in Iran.

Emphasizing that the payment due from India is quite safe, Dr. Hooseini said: “We are not worried about the same.”

He invited Mukherjee to visit Tehran at his convenience especially to sign the above-mentioned two agreements DTAA and BIPA. (ANI)

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