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Iran to grant one year's differed payment for petroleum purchases

Iran will grant one year's differed payment terms for the purchase of a large quantity of petroleum products needed for North East rehabilitation and reconstruction.

This was promised by President Seyyed Mohammed Khatami, President of Iran when Foreign Minister Tyronne Fernando called on him at the Presidential Palace in Tehran on Saturday and pointed out that Sri Lanka imported 55% of its oil requirements from Iran (averaging 1.8 million metric tons per year) and that Sri Lanka had settled its bills promptly.

Minister Fernando said that the Sri Lankan Government was welcoming foreign participation in offshore oil and gas exploration. President Khatami said Iran had much experience in this sphere.

President Khatami agreed that the UN must pay a central role in international affairs. He also welcomed developments in the Indian Sub-Continent, including the Sri Lankan peace process, and the SAARC Summit to be held next January. He also briefed Minister Fernando, on developments in the Middle East.

Minister Fernando urged greater cultural co-operation between the two countries, pointing out that the film 'Saroja' had won accolades at the Isfahan Film Festival recently.

During his four day official visit, the Minister had talks with the Foreign Minister, the Finance Minister and the Chamber of Commerce, met Sri Lankans living in Tehran and visited the 2,500 year old city of Persepolis built by King Darius.

Ambassador to Iran Omar Kamil, Senior Consultant N. Navaratnarajah and other officials of the Foreign Ministry were associated with the Minister.

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