Austrian trade official: Austrian banks must open branches in Iran soon

Tehran, Nov 11, IRNA – Head of the chamber of commerce of Austria's Vorarlberg State Helmut Steurer said on Friday he was certain that his country's banks are willing for active presence in Iran, noting that Austrian banks must open some branches in Iran. The official, who has travelled to Iran to attend a conference on Iran-Austria trade cooperation, said there exist some agreements for protecting joint investments between Iran and Austria which can serve as a good base for promotion of investments in the future. Being a neighbour with Switzerland, Germany and Lichtenstein, the western Austrian State of Vorarlberg has to compete with these economic powers, Steurer said, concluding that the products of this state are of high quality and can help Iran's progress. The conference on Iran-Austria trade cooperation was held in Tehran on Nov. 7. 1378/IRNA