*
Sri Lanka signs agreement with Iran to settle $ 251 million oil debt issue
Wed, Dec 22, 2021, 09:58 pm SL Time, ColomboPage News Desk, Sri Lanka.
Dec 22, Colombo: Iran and Sari Lanka have signed an agreement on figuring out methods to settle the island nation’s oil debt to Iran.
The two nations have signed a Memorandum of Understanding (MoU) to settle $ 251 million value of credit score excellent with Ceylon Petroleum Corporation (CPC) with provide of tea of equal worth.
Chairman of Trade Promotion Organization of Iran Ali-Reza Peimanpaak and Minister of Trade of Sari Lanka Bandula Gunawardena signed the agreement Wednesday in a gathering, Iran’s Embassy in Colombo has reported.
Peimanpaak, who can also be a deputy for the Ministry of Industry, Mines and Trade, arrived in Colombo early on Monday as his first commerce vacation spot to East Asia, the official IRNA stated.
Based on mutual agreement, Sri Lanka will month-to-month export tea to Iran to repay components of its oil debt to the nation, Peimanpaak underlined.
The issue of Sri Lanka’s oil money owed to Iran remained unsolved for years till the go to.
During his keep in Sri Lanka, Peimanpaak held talks with a number of officers there and reviewed methods to develop economic system and make use of the present alternatives.
