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Weapons of Mass Destruction (WMD)

Belgium joins INSTEX

IRNA - Islamic Republic News Agency

Tehran, Sept 18, IRNA -- Belgian ambassador to Tehran announced that Belgium would join INSTEX financial channel and encourage Belgian companies to work with Iran and that Belgium could become a shareholder of INSTEX under a bill approved by the parliament.

In a meeting with the head of Tehran Chamber of Commerce, Industries, Mines and Agriculture, Véronique Petit announced the agreement of the government to seriously join the INSTEX mechanism, and said that according to a new bill approved by the Belgian government, one of the leading members of INSTEX has adopted the financial mechanism of trade with Iran, and the Belgian Parliament has already approved the bill. Meanwhile, the Belgian bill could join INSTEX's shareholders.

According to the Tehran Chamber of Commerce, the Belgium official, who was present at the meeting with two business attaché of the Belgian embassy in Tehran, said that although INSTEX is not yet fully operational, Belgium by joining the financial mechanism of trade with Iran is ready to strive for a lasting economic and trade cooperation with the country, and in this regard, the Belgian Embassy in Tehran will do its utmost to encourage Belgium's small- and medium-sized companies that are not under the US sanctions, to continue their presence in the Iranian market and to develop cooperation with the Iranian companies.

Speaking at the meeting, Head of Tehran Chamber Masoud Khansari said that European countries, especially some of the countries present in the JCPOA, had more words than actions, and Iran has not witnessed still any openness about its implementation, noting that expectations for creating INSTEX were far beyond that now we witness.

Masoud Khansari said that sanctions have reduced the volume of economic relations between Iran and Belgium, adding that however these relations have not been completely cut off and there are many capacities for developing cooperation in various fields such as the pharmaceutical industry, construction industry, and food industries.


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