TEHRAN (Tasnim) – Iranian Deputy Minister of Industry, Mines, and Trade Mojtaba Khosrotaj underlined that the Islamic Republic is after a win-win situation in its economic relations with Britain.

Speaking in a Sunday meeting in Tehran with Britain’s trade envoy to Iran, Lord Norman Lamont, Khosrotaj said the volume of Iranian imports from Britain trails far behind the volume of exports from the Islamic Republic to the European country.

He added that a balance should be created in the bilateral trade through increasing Iran’s exports to Britain.

The Iranian deputy minister, who is also the head of the country’s Trade Promotion Organization (TPO), further highlighted the importance of insurance and banking ties between Tehran and London and said promotion of economic cooperation would not be possible without “effective” banking relations.

The British envoy, for his part, pointed to the capacities of the two countries to boost their cooperation in all economic spheres, and said efforts are underway to resolve banking problems hindering Iran’s trade with other countries.

The remarks come against the backdrop of a new wave of interest in ties with Iran after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 reached a conclusion over the text of a comprehensive 159-page deal on Tehran’s nuclear program and started implementing it on January 16.

The comprehensive nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), terminated all nuclear-related sanctions imposed on Iran.

However, some Iranian officials complain about the US failure to fully implement the accord, as Iran still has problems in its banking transactions with other countries.

By Tasnim News Agency