MBN-Company

In a meeting with head of Tehran’s Chamber of Commerce Masoud Khansari, Swedish Ambassador to Tehran Peter Tiller said the newly-established bureau is run jointly by the Swedish government and private sector, Tasnim News Agency reported.

The commercial attachés in the bureau have diplomatic passports and reside in the embassy, the envoy added.

Tehran and Stockholm eye rise in their economic relations after implementation of a 2015 agreement struck between Tehran world powers over its nuclear program.

Earlier in June, Iranian Foreign Minister Mohammad Javad Zarif paid a visit to Sweden and held meetings with senior Swedish officials, including Prime Minister Stefan Lofven.

In a meeting with the Scandinavian nation’s Minister for Enterprise and Innovation Mikael Damberg, Zarif discussed ways to strengthen economic interaction in the post-sanctions era.

mbnco-www.en.mbncompany.com-test equipment-sweden-iran-post sanction era

According to IRNA, last week, Statistical Center of Iran put the inflation rate for urban areas at 9.5 percent in the period, adding that point-to-point inflation was 6.1 percent.

Consumer Price Index (CPI) for urban areas was 240.9 in the month to June 20, which shows a 1.2 percent rise compared to the figure for the previous month, added the CBI report.

The figure also shows 6.8 percent increase compared to corresponding figure of last year.

Iranian inflation eased into single digits for the first time in a quarter century, said President Hassan Rouhani on Tuesday.

Banks including the state-run Bank Melli Iran reduced their one-year deposit rate to 15 percent from 18 percent.

CBI Governor Valiollah Seif said in May that Iran hadn’t had single-digit inflation in 25 years and predicted that the target would be reached in the summer months. Last week, he hinted that a fall in inflation would be followed by an interest rate reduction.

“It’s usually accepted for interest rates to be 1-2 percent higher than the inflation rate, and serious undertakings are in place to have interest rates be in line with this,” ISNA cited Seif as saying on June 15.

“The CBI believes that any method must be used to change interest rates to an acceptable level.”

Since world powers and Iran agreed an accord which removed most trade and finance restrictions in return for nuclear modification, crude exports have risen almost to pre-sanctions levels and global companies have signed deals.

Lower inflation and interest rates will add to that momentum by encouraging capital investment by companies that have struggled to secure reasonable financing, according to Mona Haji Ali-Asghar, chief operating officer at Kardan Investment Bank. Money will also probably flow from saving accounts into property and equity markets, she said.

"But I think we need a few months to see the full impact on the economy, and it’s also important than some structural developments in the economy happen alongside this,” she said.

cbi-central bank of iran-mbn co-mbncompany.com