Iran Trade Channel among Subjects of Talks at WEF: Switzerland
- January, 20, 2020 - 09:54
- Politics news
TEHRAN (Tasnim) – A trade channel aimed at easing exports of food and medicine to Iran following Europe’s failure to make INSTEX operational will be among topics of discussion at the World Economic Forum (WEF) in Davos this week.
The SHTA (Swiss Humanitarian Trade Agreement) will be the subject of “high-level bilateral talks” at the WEF, Swiss Secretariat for Economic Affairs confirmed said, Swissinfo reported on Sunday.
WEF, which runs from January 21-24 in the Swiss mountain resort, is expected to attract around 500 high-profile business and political figures and other leaders of society.
The proposed Swiss channel may even outpace the Instrument in Support of Trade Exchanges (INSTEX), a long-overdue mechanism the E3 (France, Britain, and Germany) intended to launch to facilitate trade with Tehran despite the US sanctions.
The launching of INSTEX was a small part of Europe’s commitment to compensate for the US withdrawal from the 2015 nuclear deal with Tehran, known as the Joint Comprehensive Plan of Action (JCPOA), which was supposed to end anti-Iran sanctions in return for certain curbs in the country’s peaceful nuclear program.