Ahmadinejad enacts Iran-Syria preferential trade agreement

September 9, 2008

TEHRAN – Iran’s President Mahmud Ahmadinejad here on Monday gave the go-ahead to the Iran-Syria preferential trade agreement approved by Majlis (Iran’s Parliament).

According to the approved agreement, the sides vowed to strengthen economic relation, increase trade volume, transform the preferential agreement to a free trade treaty, and to boost bilateral trade, ISNA reported.
A Preferential Trade Agreement is a trading deal which gives preferential access to certain products from the participating countries. This is done by reducing tariffs, but not by abolishing them completely