Tehran, May 25, The Iran Project – President of Tehran Chamber of Commerce, Industries, Mines and Agriculture says two Austrian banks have established relationship with Iranian banks.

The two Austrian banks of Raiffeisen-Landesbank Tirol A.G. and Oberbank AG have begun their activities with Iranian banks and opened letter of credit (LC) for business people, said Masoud Khansari, the president of Tehran Chamber of Commerce, Industries, Mines and Agriculture on the sidelines of a conference between Tehran Chamber and Austrian state of Carinthia's Board of Trade on Wednesday.

Having established their relationship with Iranian banks, Raiffeisen-Landesbank Tirol A.G. and Oberbank AG facilitated Iran-Austria bilateral trade, Khansari stated.

He expressed hope that other Austrian banks also take steps for resuming banking interaction with Iran, adding a number of Swiss banks have as well resumed their transactions with the country.

Iranian official further said that countries like China, India and South Korea have already started banking interaction with Iran and could pave the way for trade and economic agreements with their partners in the country.

Austrian ambassador to Iran Friedrich Stift previously announced that with the post-sanctions opportunity presented, Austrian banks are resuming banking interaction with Iran.

After the implementation of a final nuclear deal between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany), which took effect on January 16, 2015, at least five high-ranking Austrian delegations traveled to Iran to establish business relations.