IME ready to prepare e-trade infrastructure

Tehran, Nov 17, IRNA - Iran Mercantile Exchange is ready to develop infrastructure for launching electronic transactions with foreign countries, said deputy managing director of IME for market development and economic studies. Ali Panahi made the statement on the second day of the Interexchange Electronic Union's (IEU) meeting in Tehran, hosted by IME, on Sunday. Panahi added that IME's proposal to launch electronic transactions of some commodities with IEU members has been presented to the union. The official listed cement, polymer products, tar, horticultural products, dried fruits, wheat, pistachio, dates and steel ingot and sheets as the commodities that can be traded with IEU members via electronic means. Potentials of customs agreements signed between IEU members can be used for facilitating trade between Iran and the union. Addressing the first day of meeting on Saturday, IME’s Managing Director Hossein Panahian said IME's membership in IEU will serve the interests of all members. "Iran is situated between Caspian Sea and Persian Gulf which is a very strategic geographical location,” he said, adding that this can help IEU members to gain access to the important international route. He hoped that holding the international meeting in Tehran will help IME and Iran's capital market establish cooperation with IEU member countries. Panahian said IME, as the largest commodity market of Iran, plays a very important role in making prices more transparent and exploring the prices of various goods. "Establishment of a trading floor in Kish Free Zone has helped IME develop marketing and become a reference for the price of Iranian products in the region," he said./end