Iran, Sri Lanka Eye Enhanced Trade Through Asian Clearing Union

Iran expressed its readiness to enhance monetary and trade ties with Sri Lanka through the Asian Clearing Union (ACU), the semiofficial Tasnim News Agency reported. The statement came from Central Bank of Iran Governor Mohammadreza Farzin during a dialogue with Sri Lanka’s Foreign Minister Ali Sabry in Tehran. Farzin suggested the ACU offers a beneficial environment to augment both nations’ economic relationships and can serve as a mechanism for settling bilateral debts. Furthermore, he introduced the idea of a specialized working group, comprising representatives from both nations’ central banks, to address banking issues and amplify economic exchanges. Despite facing US sanctions, Farzin emphasized Iran’s success in sustaining undisturbed trade affiliations. Sabry, reciprocating the sentiments, conveyed Sri Lanka’s eagerness to elevate trade partnerships with Iran. Supporting the formation of a joint interbank committee, he believed it would expedite bilateral cooperation. He assured the Central Bank of Sri Lanka’s commitment to fostering collaboration within the ACU framework. Additionally, Sabry held meetings with Iranian Foreign Minister Hossein Amir-Abdollahian and President Ebrahim Raisi during his Tehran visit.