TEHRAN – Iran is planning to sign preferential trade agreements with five more countries, the director of the Trade Promotion Organization of Iran said on Sunday.
And Iran already has preferential trade agreements with Uzbekistan, Bosnia and Herzegovina, Kyrgyzstan, Cuba, Turkey, Tunisia, Pakistan, Belarus, and Syria, the IRNA news agency quoted TPOI Director Valiollah Afkhami-Rad as saying.
A preferential trade agreement is a trade pact between countries that reduces tariffs for certain products to the countries which sign the agreement. While the tariffs are not necessarily eliminated, they are lower than countries not party to the agreement.
Iran dispatched 33 trade delegations to 16 countries in the previous Iranian calendar year, which ended on March 21, Afkhami-Rad said, adding that the country plans to send over 90 trade delegations to 40 countries in the current Iranian calendar year.
Iran’s total non-oil trade surpassed $24.2 billion in spring 2014, according to the Iran Customs Administration.
Iran exported $11.85 billion worth of non-oil products and imported $12.38 billion worth of non-oil products in spring 2014, which corresponds to the first quarter of the current Iranian calendar year (March 21-June 21).
On May 5, the TPOI deputy director in charge of marketing, Mir Aboutaleb Badri, said that the Iranian government has decided to triple the number of its commercial attachés in other countries.
Interest in Iran as a destination for business began growing ahead of the international talks to resolve the deadlock over Iran’s nuclear program, which are currently underway.
If the discussions between the six major powers and Iran progress smoothly, it is expected that the sanctions imposed on the country will be eased and commercial routes will be revived.
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