Iran, Norway Ink MoU on Insurance Services

Iran and Norway signed a memorandum of understanding (MoU) to boost cooperation between the two countries in various fields of insurance.

Officials of the Export Guarantee Fund of Iran (EGFI) and the Norwegian Export Credit Guarantee Agency (GIEK) inked the agreement to cooperate in diverse fields, including common insurance coverage in third countries, reinsurance, and exchange of business credit information.

The MoU can play a major role in facilitating and developing trade relations between the Islamic Republic and the Scandinavian country.

During the meeting to sign the deal, the two sides expressed the hope that Tehran-Oslo cooperation in various areas of insurance would be further boosted in the near future.

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

(Source: Tasnim, under Creative Commons licence)

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