Page 42 - IRANRptAug19

9.1.9 Healthcare sector news
A Swiss payment channel that will help Iran to import medicines is ready to operate but is awaiting capital to launch, Otagh Online (“Chamber” Online) has reported the president of the Iran-Switzerland Joint Chamber of Commerce as saying.
Switzerland has for several years operated a distinct business channel for Iran-bound medical consignments, accounting for around 60% of Swiss medical exports sent to the Islamic Republic. However, with the reimposition of sanctions by the US last year, Switzerland found itself having to apply for a special sanctions-waiver to cover the trade mechanism from the US Office of Foreign Assets Control (OFAC).
“The channel is ready, its characteristics have been announced, but it’s waiting for the deposit of necessary funds from Iran,” Sharif Nezam-Mafi, president of the Iran-Switzerland Joint Chamber of Commerce, told the news outlet.
“There is no Iranian money in the channel yet”, he said.
“There is no money from Iran in Europe, much of the Iranian funds are still in India, Iraq, China and South Korea,” Nezam-Mafi added, referring to some of the countries the US is temporarily allowing to continue purchasing Iranian crude oil with no threat of sanctions.
Those and other countries are facing difficulties in sending export payments to Tehran due to the heavy restrictions on any financial transactions with the Iranians also introduced by the US.
The chamber of commerce official added that for the medical channel to operate, European countries must state their agreement that Iran can transfer funds from buyers of Iranian crude in Asia to purchase medicines in Europe.
The Swiss have already designated two banks likely to accept the trade to be conducted with the mechanism: “It could either be the Heritage Bank or Banque de Commerce et de Placements [BCP], banks that were handling the Iranian money before the sanctions,” Nezam-Mafi said.
The exports would only flow from Switzerland and would only involve medicine provided by Swiss companies, he added.
9.1.10 Tourism sector news
Iran has extended a visa-waiver programme for Chinese tourists from 15 days to 21 days in a move to boost and ease trade amid US sanctions pressure, according to Mehr News Agency on July 29. Chinese visitors to Iran, both business and touristic, are looking to the country with increasing interest as Iran continues to integrate with other Asian countries, including via China’s huge Belt and Road project to roll out trade transit infrastructure across several continents, although most of Iran’s participation in that programme is largely still at the planning stage. Increasing numbers of Chinese are also now learning Persian in Iran with families sending their children to learn more about Persian culture.
Although officially aimed at Chinese tourists, the visa extension decision would include visiting businesspeople from China and those meeting with local commercial counterparts.
The Iranian cabinet approved a visa-free policy for Chinese nationals visiting the country, according to the deputy head of the Iran Cultural Heritage, Handicrafts and Tourism Organisation (ICHHTO) on June 29, but it was limited to 15 days.
42 IRAN Country Report August 2019 www.intellinews.com