CBI seeks to ditch dollar in bilateral trade

Mohammadreza Farzin made the remarks in a meeting in Tehran on Monday with Oman’s Minister of Commerce, Industry, and Investment Promotion Qais bin Mohammad Al Yousef.

The US is exploiting the dollar as a political tool to put pressure on other countries, he said, adding that the other world currencies, especially the Asian ones, are growing.

The volume of trade between Iran and Oman has surged to $1.8 billion, the official said, noting that the volume of trade can also be increased by national currencies in bilateral trade or by means of other international trade mechanisms.

The Omani minister, meanwhile, said that his country would explore Iran’s proposals for bilateral trade, adding that trading in local currencies or through other international payment mechanisms would help economic cooperation between the two sides.

The official added that Muscat is well-prepared to expand cooperation with Iran in the field of industry along with monetary and banking relations.

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