Iran, Sri Lanka sign agreement in Colombo to settle oil debt issue
Posted on December 22nd, 2021

Courtesy Islamic Republic News Agency

Iran, Sri Lanka sign agreement in Colombo to settle oil debt issue

Tehran, IRNA – Iran and Sari Lanka have signed an agreement on working out ways to settle the latter’s oil debt to Iran.

Chairman of Trade Promotion Organization of Iran Ali-Reza Peimanpaak and minister of trade of Sari Lanka signed the agreement in a meeting, according to the Wednesday report of Iran’s Embassy in Colombo, the commercial capital of Sri Lanka.

Peimanpaak, who is also a deputy for the Ministry of Industry, Mines and Trade, arrived in Colombo early on Monday as his first trade destination to East Asia.

Based on mutual agreement, Sri Lanka will monthly export tea to Iran to repay parts of its oil debt to the country, Peimanpaak underlined.

The issue of Sri Lanka’s oil debts to Iran remained unsolved for years until the visit.

During his stay in Sri Lanka, Peimanpaak held talks with several officials there and reviewed ways to develop economy and make use of the existing opportunities.

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