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Iran, Ukraine working on preferential tariffs

Business Materials 16 September 2015 15:36 (UTC +04:00)

Tehran, Iran, Sept. 16

By Mehdi Sepahvand -- Trend:

Iran and Ukraine are creating a list of goods that are going to be traded between the sides in order to include them in a preferential tariff agreement.

Iran needs oilseeds and cereals such as wheat, which are strategic goods for the country and will be put on the list, Head of the Iran-Ukraine Joint Trade Council Sadina Abaee said, Fars news agency reported Sept. 16.

The Iran-Ukraine trade turnover is currently $300 million, mostly including garden and agricultural products.

The Iranian official said the mutual trade has to reach $1 billion in two years, pointing out that in the past year mutual trade between the two countries was reduced following the political crisis in Ukraine.

According to Abaee, Ukraine is willing to invest in joint projects in petrochemicals, oilseeds, and cereals. "We are after forming consortiums to secure investment and enter targeted third markets," she said.

Pointing out that Ukraine's current political situation has worried Iranian traders she said Iran could rely on the security that is prevalent in the Western provinces of Ukraine.

She said Director of Iran's Trade Promotion Organization Valiollah Afkhami Rad is going to travel to Ukraine in early November, when the to-be preferential agreement will be signed.

On September 14, Iran was host to the first Ukrainian trade delegation in 14 years where 80 companies in the wagon-making, tools-making, spare parts, and nuclear energy areas met Iranian counterparts.

Chairman of Iran Chamber of Commerce Mohsen Jalalpour said in the near future bilateral trade between Iran and Ukraine is expected to rise, therefore delegations to frequent between Iran and Ukraine are divided into five groups of: 1. Agriculture, animal husbandry, and food industries 2. Spare parts and airplane-making 3. Mine and related industries 4. Road, rail, and sea transportation 5. Oil, gas, energy, and power plants.

Edited by CN

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