FOREIGN BANKS PRESENCE TO ACCELERATE IRAN'S JOINING WTO OFFICIAL

Info-Prod Research (Middle East), May, 2007

According to "Tehran Times", the presence of foreign banks in Iran will lead to the improvement of the banks' performance, will boost their competitiveness, and will speed up the country's membership in the World Trade Organization (WTO), an official asserted. The presence of foreign bank branches in Iranian system and the purchase of the stocks of Iranian banks by foreign investors will enhance the banks' performance, Vahid Bozorgi, an official with Iran's Plenipotentiary Office at the World Trade Organization told MNA.

The United States continues to block regular applications by Iran to start membership negotiations.