Indian envoy: UCO bank of India extends Iran L/Cs for six months.

Indian envoy to Iran announced facilitation of banking relations between two countries in a meeting on analyzing commercial and investment opportunities of Isfahan and India, AVA diplomatic reports.

In a meeting with Isfahan merchandisers, Indian envoy to Iran, Serio Stava reiterated: “We welcome to be partner of Isfahan Chamber of Commerce and invite this city’s merchandisers to visit economic and commercial parts of India”.

He also added that despite of both countries good economic cooperation last year, there were many obstacles on the way of money transformation for the both countries merchandisers.

Referring to Isfahan economic capacities, Serio Stava said: “Isfahan is one of the trading centers of Iran which produces 70 percent of Iran steel. In textile field, this city is like Manchester in Europe.”

He named Isfahan as Iran science and research center and asserted that Isfahan was one of the great and popular cities of the world which was also noticeable in trading, industry, art and history fields.