New Delhi, Tehran Finalizing Preferential Trade Accord

Date: 24 December 2018 - 21:39

News ID: ۶۱۱۹۹

TEHRAN (Dispatches) - Head of Asia and Oceania Trade Office at TPO (Iran’s Trade Promotion Organization) Mojtaba Mousavian said on Monday  that Iran and India are concluding a bilateral preferential trade agreement on reducing tariffs on a list of 80 to 100 goods which are common in the trade between the two countries.
Representatives of Iran and India are holding expert-level talks to finalize a ‘preferential trade’ agreement which will come into effect in the near future, Mousavian said.
He described the initiative have been fruitful and the agreement is set to be implemented within the next month.
The official said as per the agreement, each side will reduce tariffs on 80-100 products purchased from the other country.
Mousavian added, urea, methanol, propane, tar, iron, butane, pistachio and dates, are among the products, shipped from Iran to India, which are slated to enjoy tariff reduction.
In exchange, Indian goods included in the initial list are rice, tea, carbon electrode, paper, aluminum oxide, medical supplements and sesame. The list still awaits finalization and could undergo changes.