Iran, Bangladesh sign agreement to prevent double taxation

October 11, 2022 - 17:45

TEHRAN - Iran and Bangladesh have signed an agreement to prevent double taxation and tax evasion to encourage cooperation between the two countries’ businesses, IRNA reported.

Head of Iranian National Tax Administration Davoud Manzour and his Bangladeshi counterpart signed the agreement in Tehran on Monday.

“The agreement was signed by the parties with the aim of increasing trade exchanges between the two countries and encouraging the private sectors of Iran and Bangladesh to cooperate,” Manzour said at the signing ceremony.

Back in August, Gholam-Hossein Shafeie, head of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), said tariff barriers and transportation problems were the main factors hindering Iran-Bangladesh trade relations.

Shafeie made the remarks in a meeting with Iran's new Ambassador to Dhaka Mansour Chavoshi.

During the meeting, Shafeie mentioned Bangladesh’s acceptable economic growth in recent years and assessed the future economic prospects of the country as positive.

He emphasized the need to improve the trade infrastructures of the two countries for the development of mutual cooperation.

The ICCIMA head further pointed to common areas for economic cooperation such as transportation, construction materials such as bitumen and cement, fuel, investment, clothing and textile, agriculture, herbal medicines, and medical devices, saying that the two sides should take all the necessary measures to benefit from these capacities.

According to Shafeie, Bangladesh has established tariff exemption treaties with some countries including the members of the European Union, and therefore, in order to facilitate trade with the Islamic Republic, it is necessary to implement a similar preferential trade agreement that has already been approved by the two countries.

Referring to the recent trip of an Iranian trade delegation to Dhaka to participate in the meeting of the chambers of commerce of the D-8 organization, he said: “This delegation discussed cooperation programs, including the reduction of trade tariffs and the cancellation of business visas among the members of this organization. It was also announced that the next round of the meeting of the D-8 Chambers of Commerce would be held in Tehran, and it was welcomed by other chambers.”

“One of the measures that the ICCIMA has had on its agenda was the formation of a joint Iran-Bangladesh trade committee, which fortunately was approved by the chamber's board of directors this week, and this committee will be formed soon,” he announced.

Chavoshi for his part emphasized the importance of Iran-Bangladesh relations and pointed to the great advantages that Iran can benefit from cooperation with this country.

“One of the positive factors in cooperation with Bangladesh is the fact that the people of this country have a very good attitude towards Iranian goods and the country’s businessmen, and this can be built upon to strengthen and develop relations between the two countries,” the envoy said.


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