Baku, Azerbaijan, June 22
By Fatih Karimov - Trend: The first round of talks between Iran and Hungary on lifting double taxation in bilateral trade was held for three days in Tehran.
The two sides reviewed and modified a draft of the double taxation avoidance agreement, which had been previously signed by the two countries, Iran 's IRNA news agency reported on June 22.
Iran mainly imports fruits, machinery, electronic and electrical equipment, carpets, and home appliances from Hungary. It exports mineral products, medicine, ceramics, plastic products, and chemical products to the country, according to the Tehran Chamber of Commerce website.
Iran exported about $3.5 million of non-oil products to Hungary in the past Iranian fiscal year, which ended on March 20, 2015, while imported $9.5 million of goods from the European country.
In August 2014, Iran established a trade center in Hungary's capital city Budapest to expand its commercial and economic activities in other countries.
Iran has set a target of $77.5 billion in non-oil exports for the current Iranian calendar year, which began on March 21.
Iran 's total non-oil exports hit $49.744 billion in the previous Iranian fiscal year, showing 18.87 percent rise from $41.848 billion in its preceding year.
The country's non-oil imports reached $52.477 billion in the past year, with 5.57 percent growth compared to the year before.
Edited by CN