TEHRAN, June 12 (Xinhua) -- Austria's Oberbank will grant one billion euro of credit line for financing investment projects in Iran, visiting Austria's Federal Minister of Finance Hans Jorg Schelling said, as quoted by Tehran Times daily on Monday.
Schelling made the remarks in a meeting with Iranian Finance Minister Ali Tayyebnia in the capital Tehran on Sunday.
In separate meetings with Schelling on Sunday, Tayyebnia and Iranian Industry Minister Mohammadreza Nematzadeh sought avenues for increasing economic and banking ties between the two countries.
Tayyebnia and Schelling also agreed to sign a Double Taxation Avoidance Agreement (DTAA) in future as well as developing customs cooperation under EU regulations.
The trade value of Iran and Austria currently stands at 400 million U.S. dollars, and the two countries are planning to increase it to 5 billion U.S. dollars in future, Tayyebnia said.
