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Code: 44565 Visited: 431 Publish Date: Nov 07 2017 - 2:16
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Capital Market
Bitumen to Be Exported to India through IME
Tehran, Nov. 07 (SENA) - Financial officials are preparing to export bitumen to India through the Iran Mercantile Exchange, IME’s CEO Hamed Soltaninejad said on Monday.

Tehran, Nov. 07 (SENA) - Financial officials are preparing to export bitumen to India through the Iran Mercantile Exchange, IME’s CEO Hamed Soltaninejad said on Monday.

India has been a major market for Iran’s bitumen, but export of the product has always been affected by intermediaries.

“The IME will guarantee the quantity and quality of bitumen to be exported to New Delhi,” Soltaninejad said.

IME officials believe that bot sides need to cooperate more closely to establish long-term agreements.

Authorities of the Iranian and Indian mercantile exchanges signed a memorandum of understanding on the sidelines of Kish INVEX 2017, an international financial event held last week on southern Kish Island.

Indian financial official attended the event.

The two sides also agreed to transfer one thousand tons of bitumen from Iran to India through the mercantile exchange.

Iran and India have been close trade partners for decades, even while Iran was under crippling international sanctions between 2012 and 2015. 

Iran want to step up exports of bitumen and construction products to New Delhi, as development projects have been growing in India.

 
By: Security and Exchange News Agency (SENA)
 
 
 
 
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