We will discuss with Maliki payment in trade between the two countries in local currencies instead of the dollar
Indian Minister: We will discuss with Maliki payment in trade between the two countries in local currencies instead of the dollar
Posted, August 24 / August 2013 20:28
In the NBA special from New Delhi told all of Iraq [where] that the Minister of Indian Commerce and Industry Anand Sharma said on Friday that his country was considering the possibility that the bilateral trade with Iraq in the two currencies المحليتين rupee and the Iraqi dinar instead of the dollar in order to face devaluation of the Indian rupee and exchange rates volatile.
The Indian minister said that the issue of payment in local currencies in trade between the two countries will be discussed during the bilateral meetings between Iraqi Prime Minister Nuri al-Maliki and Minister Indians.
“We are exploring the possibilities (pay in the local currency, the dinar and the rupiah), we have to import large and we will certainly discuss this issue.
It is known that the bilateral trade between India and Iraq have now reached about 21 billion U.S. dollars.
Meanwhile, al-Maliki has called in a meeting organized by the Chambers of Industry Indian industry to take advantage of business opportunities in different sectors in Iraq, such as agriculture, health and education in Iraq.
He said, “I invite Indian companies to invest in Iraq. There are great opportunities and broad prospects in different sectors.”
Experts believe that the Indians will pay in the local currency will help to some extent India in dealing with exchange rate fluctuations and the devaluation of the rupee which fell to its lowest level on record 65.56 against the U.S. dollar during the day / End