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Iran's National Petrochemical Industry Company rep talks special financial mechanism

16 January 2019 [13:14] - TODAY.AZ

By  Trend

Both Europeans and the Asians expect the special financial mechanism to be determined between Iran and the EU in connection with foreign investments in the Iranian petrochemical industry, Hossein Ali-Morad, head of the investment department of Iran's National Petrochemical Industry Company, said.

The companies willing to invest in the Iranian petrochemical industry expect the determination of the special financial mechanism. These companies will make final decisions after Special Financial Mechanism has been determined, Ali-Morad added, Trend reports referring to ISNA.

Besides European companies cooperate with Iran in supply of equipment and making short-term and long-term investments, the companies from Asian companies like Japan, South Korea and China expect the outcome of the special financial mechanism predicted by Europe. So, they should continue to actively operate in the Iranian market, he said.

Ali-Morad does not confirm that foreign companies leave Iran's petrochemical market because they want to see the result.

The foreign companies will outline their policy and take steps, he said.

After the US announced about withdrawal from the Joint Comprehensive Plan of Action in May 2018, Iran and the EU have begun to discuss the creation of a special financial mechanism between the two sides. Some media outlets predict that the special financial mechanism between Iran and Europe will be launched in January.


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