Oral Answers to Questions

Debate between Harriett Baldwin and Maggie Throup

Tuesday 19th April 2016 Commons Chamber

[Maggie Throup (Erewash) (Con)]

11. What steps he is taking to facilitate transactions between UK and Iranian financial institutions.

[The Economic Secretary to the Treasury (Harriett Baldwin)]

The Government fully support expanding the UK’s trade relationship with Iran. The Treasury is actively liaising with UK banks and industry bodies, to understand concerns and help re-establish financial channels between the UK and Iran.

[Maggie Throup]

Despite the improving diplomatic relations between the British and Iranian Governments, UK businesses still face significant barriers to completing legitimate banking transactions for trade purposes. Will the Minister look at what more can be done to help to facilitate financial transactions between UK and Iranian banks, so that the UK economy can begin to benefit from this new market?