(MENAFN) Sri Lanka is probable to ink an agreement with Iran to sell its famed tea over the next two years in exchange for the settlement of loans obtained for the purchase of oil, Trend reports citing IRNA.
Couple of weeks ago a debate was held at the Foreign Ministry among Ministers Tilak Marapana and Navin Dissanayake together with other related officials of the both ministries, Plantation Industries Ministry Secretary J.A. Ranjith emphasized on Thursday.
Sri Lankan tea exporters are now going through a hard challenge since not only has the prices of tea fallen but the industry is incapable to export to a number of its main markets because of the trade sanctions imposed on dollar transactions with Iran by the U.S.
During the meeting they had conferred ways overcome the issue pertaining to the sale of Ceylon Tea to Iran because of the recent U.S. sanctions imposed on Iran as a result of which banks reject to engage in dollar transactions with Iranian banks.
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