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21:00 GMT
TEHRAN, March 17 (KUNA) -- Oman's Minister Responsible for Foreign Affairs Yousuf bin Alawi on Saturday called for the endorsement of use of local currencies in order to develop banking and commercial cooperation with Iran.
Bin Alawi made the announcement during a meeting with Central Bank of Iran (CBI) Governor Valiollah Seif, Iranian media outlets said.
The Omani minister welcomed the establishment of a joint banking committee between the two states so as to remove obstacles impeding the promotion of financial ties, describing this move as a "good" decision.
He expressed his hope that banking and economic relations would be developed and elevated between the two countries.
The minister pointed to cooperation in oil, gas and petrochemical fields between the two sides, affirming the importance of banking relations to facilitate cooperation in other economic fields.
For his part, Seif said Oman can be transformed into a hub for re-exports of Iranian commodities and a center for international banking relations, in addition to stable economic and political ties between the two sides.
He noted that the CBI issued several decisions and instructions to facilitate the entry of foreign investments into the Iranian markets.
The governor expressed his country's readiness to the linking of the bank cards between the two sides that has an impact on services and facilities provided to tourists in both countries. (end)
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