Tehran, IRNA – De-dollarization is a strategic policy pursued by the Central Bank of Iran (CBI), says CBI Governor Mohammadreza Farzin.
He made the remarks in a meeting in Tehran on Monday with Oman’s Minister of Commerce, Industry, and Investment Promotion Qais bin Mohammad Al Yousef where the two sides explored ways for further enhancement of bilateral trade.
Iran has strong economic and political reasons for its strategy to move away from the US dollar, Farzin said, adding that the US is exploiting the dollar as a political tool and that other world currencies, particularly in Asia, are growing.
Noting that the value of annual trade between Iran and Oman has grown to $1.8 billion, the CBI governor said that the two countries can continue to trade using national currencies or by means of other international trade mechanisms without having the value of their trade decreased.
The Omani minister, for his part, said that his country would examine Iran’s proposals for bilateral trade, adding that trading in national currencies or using other international payment mechanisms would help economic cooperation between the two countries.
The minister added that Muscat is fully prepared to expand cooperation with Iran in the sphere of industry.
Al Yousef, who is in Tehran to attend Iran Expo 2023, said that he had become surprised to see Iran’s industrial progress during the fair.
The 5th Export Potential Exhibition of the Islamic Republic of Iran (IRNA EXPO 2023) kicked off in Tehran on Sunday to showcase trade and investment opportunities in the country for foreign businessmen and entrepreneurs.
As many as 100 individuals from China, 50 from Pakistan and Oman each, 40 from Saudi Arabia, and over 30 participants from the UAE, have so far been warmly received at IRAN EXPO 2023.
