Austria Opens $1bn Credit Line for Trade with Iran

Khosrotaj told Second President of the Austrian National Council Karlheinz Kopf on Saturday, “Austria’s export credit agency (ECA) has opened a new credit line to the value of one billion dollars for expansion of relations with Iran; however, to use the credit line we need presence of the big banks.”

He said expansion of Iran-Austrial cooperation is a macro policy emphasized in a meeting of the Supreme Leader of Islamic Revolution Ayatollah Seyed Ali Khamenei and Austrian President Heinz Fischer. “To this end, we are determined to improve our trade balance with Austria and have concentrated all our efforts on providing a safe haven for trade and cooperation with all institutions.”

Emphasizing that Iran-Austria trade balanced should be maintained and Iran’s exports to the country should increase, Khosrotaj said, “Now, the main focus of the country is on expansion of technical and technological cooperation. We have been successful in the production sector; we have been successful to make large amount of investment but now we need to upgrade our technical and technological know-how.”

He went on to say academic and technical cooperation between Iran and Austria is growing and the two sides are to expand their tourism industry.

He said European big market no longer affords all needs traders and they are to find new markets, so Iran can be helpful in this connection because it is hub of the region. “In case of investment in Iran, exports to markets of the neighboring countries will also be possible.”

Kopf said Iran is attractive for Austria in many aspects, as the two sides have good relations with each other.