(MENAFN) Iran's cabinet members decided on an addendum to the Iran-Syria free trade deal that reduces the customs tax on items covered by the pact from 4% to 0%.
The Ministry of Industries, Mines, and Trade was authorized to negotiate, modify, and sign the appendix to the supplementary protocol of the Free Trade Agreement between the Government of the Islamic Republic of Iran and the Arabic Republic of Syria at a cabinet session led by the president on Sunday.
The appendix to the extra protocol of that agreement between the Iranian and Syrian governments to reduce the customs duty on the commodities specified in that free trade agreement from 4% to 0%, depending on the added value at the point of origin of the items, also covers services and procurement.
The Iran-Pakistan free trade deal has been approved.
Meanwhile, the cabinet members authorized the Industries, Mines, and Trade Ministry to negotiate, revise, and sign a temporary free trade agreement between the Islamic Republic of Iran and the Islamic Republic of Pakistan, keeping in mind the huge volume of capacities in Iran's eastern neighbor, Pakistan, for expanding bilateral trade and turning that country into an important export market for Iran.
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