Iran inks MoU on re-insurance services with German and Swiss firms

Islamic Republic News Agency (IRNA) ^ | 10/26/2016

[tekrat]

The MoU (memorandum of understanding) was signed on the sidelines of the Berne Union Meeting which is underway in Lisbon, Portugal.

The agreement envisaged cooperation on economic, trade, banking ties, reinsurance coverage, joint insurance and training.

[tekrat]

So Germany and Switzerland are working with Iran?

BTW: There are a lot abbreviation in the full article. So here are their meanings:

MoU - A memorandum of understanding (MOU or MoU) is a formal agreement between two or more parties. Companies and organizations can use MOUs to establish official partnerships. MOUs are not legally binding but they carry a degree of seriousness and mutual respect, stronger than a gentlemen's agreement.

EGFI - Export Guarantee Fund of Iran, as the only state owned export credit insurance company of the country, is Iranian exporters’ most trusted consultant and supporter via its insurance and guarantee services for their sound presence in new markets and maintenance of the present markets as well as its export finance facilitation.
http://www.egfi.org/index.aspx?siteid=81

JCPOA - The Joint Comprehensive Plan of Action (JCPOA) (Persian: برنامه جامع اقدام مشترک‎‎, acronym: برجام BARJAM), known commonly as the Iran deal or Iran nuclear deal, is an international agreement on the nuclear program of Iran reached in Vienna on 14 July 2015 between Iran, the P5+1 (the five permanent members of the United Nations Security Council—China, France, Russia, United Kingdom, United States—plus Germany),[a] and the European Union.
https://en.wikipedia.org/wiki/Joint_Comprehensive_Plan_of_Action

[indthkr]

Iran deal bump for later.....

[mewzilla]

Most of the EU is already or will be doing business with Iran. Big reason why Obama wanted the nuke deal done. And why the Vatican was willing to aid and abet.