TEHRAN- The Deputy Minister of Industry, Mining and Trade for Commercial Affairs emphasized the revival of the Iran-India Joint Trade Working Group to expand trade relations between the two countries.

According to a report by IRNA from the Ministry of Industry, Mining and Trade, Mohammad Sadegh Mofatteh stated, during a meeting with Amardeep Singh Bhatia, the Deputy Minister of Commerce and Industry of India: "This working group held three sessions up until 2015 and played a highly constructive role in developing trade between the two countries. Unfortunately, since 2015, it became inactive due to political reasons and sanctions."

He continued: "This working group will be the responsibility of the deputies for commercial affairs and industry of the two countries, and its reactivation can play a significant role in resolving problems and obstacles hindering trade exchanges between the two nations."

Mofatteh emphasized the diversification of services provided by India's UCO Bank to Iranian traders and said: "Activation of this bank can play a constructive role in developing trade relations between the two countries and increasing Iran's export share to India."

He proposed that UCO Bank's banking services to Iranian traders be extended to sectors such as industry, mining, electricity, construction, and services, using Indian rupees.

The Deputy Minister of Industry, Mining and Trade for Commercial Affairs also referred to establishing a regular and continuous shipping line between Indian ports and Chabahar Port, stating: "Establishing this shipping line on a continuous and regular basis will play a key role in developing Chabahar Port and also provide the necessary groundwork for growth of investment in Chabahar."

Mofatteh expressed: "So far, there has been no regular line between Chabahar Port and Indian ports. The only existing line is the Islamic Republic of Iran Shipping Line, which is not regular and carries cargo only as it becomes available. Therefore, establishing a regular weekly or bi-weekly line can help develop the port and attract investors."

EF/MA