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Iran, E3 to discuss INSTEX in Tehran today

12 March, 2019
Source: MNA

Tehran will be hosting today a fresh round of expert talks between Iranian experts and representatives from France, Germany, UK and EU about the implementation of the EU’s trade mechanism for Iran called INSTEX.

In this meeting, the latest status of the Instrument in Support of Trade Exchanges (INSTEX) and its corresponding institution in Iran will be discussed by expert delegations from Iran, France, Germany, UK and the EU.

The Tuesday meeting will also cover discussions on ways of cooperation between the two institution, how businesses will be using the trade mechanism, and a review on the next steps aimed at expanding the area of activities within INSTEX to other trade and related fields.

The meeting will be attended by representatives of the Iranian Ministry of Foreign Affairs and other ministries and related organizations, as well as representatives of the political and economic sectors of the European Union and the INSTEX's president, Per Fischer.

Meanwhile, the French embassy in Tehran posted a tweet on Monday about the meeting, saying “E3 Heads of Missions welcome INSTEX's president, Per Fischer, to Tehran. Important step to discuss with Iranian counterparts [on] how to make the EU-Iran trade mechanism operational!”

INSTEX is a special-purpose vehicle established in January 2019 by France, Germany and the United Kingdom to facilitate non-dollar trade with Iran in a bid to bypass US sanctions.

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