Indonesia Keen to Broaden Banking Ties with Iran

"Iran’s monetary transactions are currently being carried out through a third-party country which makes the process costly and time-consuming,” Sawega told reporters on Monday.

The senior Indonesia banker said that his bank is ready to resume banking interactions with Iran within the framework of mutual agreement between Indonesia Eximbank and Export Development Bank of Iran (EDBI) in a bid to further develop trade ties between the two states.

The official however noted that direct banking cooperation will soon begin between the two sides.

In relevant remarks on Friday, Indonesian President Joko Widodo voiced his country's willingness to expand mutual cooperation with Iran in economic and trade fields.

"We hope a new era of relations will begin in Indonesia-Iran relations," President Widodo told reporters.

"I have agreed with Iranian President Hassan Rouhani to raise the volume of exchanges between Tehran and Ankara to the level of two billion dollars from the current $280 million," he added.

Indonesian President Joko Widodo arrived in Tehran on Tuesday afternoon at the head of a high ranking delegation.

Tehran and Jakarta signed four memoranda of understanding (MoUs) in the presence of the two countries' presidents in the Iranian capital on Wednesday morning.

The MoUs dealt covered different areas such as electricity, trade and joint investment and judicial cooperation.

The two countries are slated to sign another eight MoUs in different areas.

Indonesian President Joko Widodo was officially welcomed by his Iranian counterpart Hassan Rouhani in Saadabad Cultural Complex in North of Tehran on Wednesday morning.

Widodo's visit was in response to President Rouhani's visit to Indonesia last year.

President Rouhani visited Indonesia last year and met Indonesian officials to broaden mutual cooperation.

Head of Indonesia Investment Coordinating Board (BKPM) Thomas Trikasih, several ministers, officials and private sector CEOs are accompanying Widodo during his visit to Iran.

In April, President Rouhani and the Indonesian vice-president in a meeting in Turkey underlined the need for the further expansion of mutual cooperation.

During the meeting on the sidelines of the summit meeting of the Organization of the Islamic Cooperation (OIC) in Istanbul, President Rouhani and Jusuf Kalla explored avenues for bolstering and reinvigorating bilateral relations.

"The ground is ready for enhanced ties between Iran and Indonesia after removal of anti-Iran sanctions and resumption of banking ties," President Rouhani said.

The Iranian president went on to say that Iran and Indonesia have good potentials for expansion of ties in the fields of energy, industry, tourism, science and research.

He also urged the private sectors of the two countries to boost their ties.

SOURCE: Farsnews