Friday, 03 December 2021 04:59 GMT

Free trade deal amid Iran, Syria to be implemented soon


(MENAFN) According to Farzad Piltan, the director-general of Iran's Trade Promotion Organization (TPO)'s Office of Arabian and African Countries, a free trade deal inked amid Iran and Syria back in 2010 will be applied soon after years of delay.

Piltan further declared that “The free trade agreement with Syria was signed in [the Iranian calendar year] 1389 (started in March 2010), but was inactive for some reason, and its implementation is expected to resume soon,” the TPO portal reported.

Both countries inked the free trade deal to improve mutual trade, especially in industry, mining, and agriculture.

Excluding 88 items, the exchange of all goods amid both countries was subject to the free trade deal, based on which, both countries’ businessmen were permitted to exchange goods only by paying a four-percent tariff, Piltan added.


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