Iran willing to sign preferential trade agreement with India

Sai Nikesh | The Dollar Business The Iranian Trade Promotion Organization (ITPO) expressed its willingness to sign preferential trade agreement with India in a move to promote bilateral trade between the two countries. According to an official report of the Islamic Republic News Agency of Iran, the Head of Trade Promotion Organization of Iran, Valiollah Afkhami Rad said that ‘signing of preferential agreement with India will result in promotion of trade between the two countries’. The Iranian official was quoted to have made these statements during his meet with the Indian Deputy Minister of Industrial Affairs, Rajani Ranjan Rashmi on Saturday. Expressing dissatisfaction over existing volume of trade between the two countries, the Iranian official emphasized on the need for maintaining and practicing the preferential tariffs for a better exchange of trade between the two countries. Urging the Indian government to provide better market access, the Iranian official sought lowered tariffs for Iranian exporters and also asked the official to allow easier market access for their Saffron, Pistachio, Date, Kiwi, Apple and Pomegranate products. While inviting the Indian companies to make investments in Iran, the official called for Indian investments in transportation and other infrastructural projects, especially in the port city of Chabahar in Southeastern Country. The official further urged the Indian government to facilitate the process of registering companies for Iranian businessmen. Meanwhile, the Head of the National Standard Organisation (NSO) Nayyereh Pirouzbakht expressed satisfaction over the imports of tea, among other commodities from India. She further announced the formation of a joint working group consisting both Indian and Iranian officials and said that the group will work on clearing technical obstacles and ensure the facilitation of trade, boost the quality of products for exports. Pointing out that the group will have a special focus on commodities like Rice, Tea and Soya, which Iran has been importing from India, the NSO head asked the Indian government to consider commodity specific sensitivity on tea exports to Iran. Objecting Iran’s concerns over existing of heavy metals in Rice imports from India, she said there is no concern on India’s rice imports as they are cultivated in an arsenic-free soil. On a whole, she said that Iran welcomes any trade transaction with India for better bilateral cooperation, provided, the transactions should follow the standard regulations.  

This article was published on March 02, 2015.