13 August 2019 - 16:17
Journalist ID: 2078
News Code 83435895
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Nicaragua vows to broaden barter trade with Iran defying sanctions

Tehran, August 13, IRNA- Nicaragua is ready to broaden barter trade with Iran ignoring US sanctions which has complicated banking affairs and financial transactions, visiting Nicaragua’s Treasury and Public Credit Minister Iván Adolfo Acosta Montalván said on Tuesday. 

“There are opportunities to produce red meat in Nicaragua. Iranian companies can even invest in this sector, produce meat based on halal principles and export it to other countries as well,” said Nicaragua’s Treasury and Public Credit Minister. 

He made the remarks in a meeting with Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) authorities in Tehran early Tuesday. 

Earlier, ICCIMA President Gholam Hossein Shafei proposed that Tehran and Manágua engage in barter trade through export of red meat from Nicaragua in exchange for Iranian chemical fertilizer for agricultural purpose.  

Barter trade is the key to success of Iranian private sector under sanctions, Shafei said.  

Iran can also help the Central American nation to build infrastructure as “Iranian companies have good experience in realising big construction projects outside Iran”, according to speaker of Iran's private sector. 

Shafei also proposed that Nicaragua to ease issuance of visas for Iranian businesses to further facilitate trade between the two countries.  

Iran and Nicaragua, with close political views in terms of the US hegemony in the world, have already cooperated in various sectors. 

Acosta, who is on an official visit to Iran, heading a political and business delegation said he would make every effort to restore trade ties between the two countries. 

“We have signed a comprehensive agreement with the Iranian government in order to start a new era of economic relations,” the Nicaraguan minister added.  

Acosta highlighted that Iranian businesses can access a 1.5 bn potential market in 45 countries through trade with Nicaragua, that has signed agreements with these many countries. 

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