Iran to implement new trade law in 2021
Tehran, Iran, Sept.6
Iranian parliament is reviewing the new trade law, which mostly focuses on localizing trade, and the law is expected to be enacted in 2021, said deputy head of Iran's Chamber of Commerce, Trend reports citing ILNA.
"The process of approving new bill has been very long. Considering that the bill contains more than 1,000 articles, it should be reviewed before being passed by the parliament. As expected, the law will be implemented in 2021," said Hossein Salahvarzi.
"Some experts say that the new law is adapted in line with a number of foreign trade regulations and basically, it is a localized version of world trade laws," he noted.
"Considering major changes in the current law, it has been decided that the trade law will be implemented within few years after being passed. It is expected to be implemented in 2021," he said.
"In drafting the trade law, a representative from Iran's Chamber of Commerce was also working with the parliament committee. It would have been better, if the final draft of the bill was released before parliament approval, so other experts could have provided their comments," he added.
"The previous trade law was not sufficient for the modern needs, since new issues have occurred; therefore, drafting a cohesive trade law compatible with modern issues, particularly electronic trade, was necessary," he indicated.