Iran agrees to supply crude to Bangladesh on deferred payment

Dhaka, July 28 (UNI) Iran has agreed to export crude oil to Bangladesh on deferred payment for three months time, Bangladesh Finance Minister Saifur Rahman said here today.

After attending the Bangladesh-Iran Joint Economic Commission meeting held in Tehran on July 24-25, Mr Rahman told newsmen that Bangladesh had requested the Iranian government to give oil on deferred payment for six months time but Iran agreed to allow the deferred payment for three months as per their constitutional obligation.

He said Bangladesh and Iran in the JEC meeting has agreed to enhance collaboration in all designated sectors of cooperation, including trade, investment, fisheries, railways, information technology and tourism.

''We have signed Preferential Trade Agreement (PTA) which will help increase the bilateral trade,'' he said, adding that the bilateral trade between the two countries was 70 million dollars at present.

He said the volume of trade is very little although it remains overwhelmingly in favour of Bangladesh. He hoped that the PTA would help bilateral trade grow to 200 million dollars.

The Finance Minister informed that Iran has shown keen interest to extend its technical support to power, petroleum, construction and pharmaceuticals.

Iran also offered to turn Eastern Oil Refinery in Chittagong into BMRE and set up another oil refinery plant in Bangladesh, he said.

A memorandum of understanding (MoU) was also signed to encourage cooperation in tourism sector between the two countries.

UNI XC VJ KP1631