MoU between Sri Lanka and Iran ‘Tea for Oil’ Barter Arrangement

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Sri Lanka and Iran signed MoU to settle the outstanding payments from Ceylon Petroleum Corporation to National Iranian Oil Company
Sri Lanka and Iran signed MoU to settle the outstanding payments from Ceylon Petroleum Corporation to National Iranian Oil Company

The Government of Sri Lanka and the Islamic Republic of Iran signed the MoU between the Ministry of Plantation of the Democratic Socialist Republic of Sri Lanka and the Ministry of Industries, Mine, and Trade of the Islamic Republic of Iran to formulate a scheme for the settlement of the outstanding payments from Ceylon Petroleum Corporation to the National Iranian Oil Company at the Foreign Ministry on 21 December 2021.

Minister Plantation Sri Lanka Dr. Ramesh Pathirana, and Deputy Minister of Industry, Mine, Trade of the Islamic Republic of Iran Alireza Paymanpak signed the MoU on behalf of their respective Governments. This was with the main focus to promote the mutually beneficial cooperation between Sri Lanka and Iran in the field of economic relations. The MoU aims at increasing the sale of Ceylon Tea to the Islamic Republic of Iran through the settlement of an outstanding payment for the oil purchases by the Government of Sri Lanka.

Sri Lanka and Iran signed MoU to settle the outstanding payments from Ceylon Petroleum Corporation to National Iranian Oil Company
Sri Lanka and Iran signed MoU to settle the outstanding payments from Ceylon Petroleum Corporation to National Iranian Oil Company

Ambassador  of the Islamic Republic of Iran Hashem Ashjazadeh , State Minister of Regional Co-operation Tharaka BalasuriyaState Minister of Company  Estate Reforms, Tea and Rubber Related Crop Cultivation and Factories Modernization and Tea/Rubber Export Promotion Kanaka Herath, Secretary Ministry of Finance S.R. Attygalle, Secretary Ministry of Plantation Ravindra Hewavitharana, Chairman SLTB Jayampathy Molligoda, Chairman of Ceylon Petroleum Corporation W.W.D. Sumith Wijesinghe, Director General of Sri Lanka Tea Board Anura Siriwardena, the Senior officials of the Foreign Ministry and the Tea Board in Sri Lanka were also present at the event of signing the MoU.

The Deputy Minister of Industry, Mine, Trade of the Islamic Republic of Iran Alireza Paymanpak also paid a courtesy call State Minister of Regional Cooperation Tharaka Balasuriya and Secretary of the Foreign Ministry Admiral Prof. Jayanath Colombage, and discussed the matters of mutual interest and ways of further enhancing the bilateral relations between the two countries.

At this moment of celebration we recall the dedication and efforts of the Ambassador of Sri Lanka to Iran Wishwanath Aponsu and Ambassador  of the Islamic Republic of Iran to Sri Lanka  Hashem  Ashjazadeh  which have immensely  contributed to finalize the MOU  and the commitment, foresight, goodwill and friendship  between  the two countries   which  paved the way to  signing of this MOU.

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