Iran, Syria to cut customs charges in bilateral trade
Azerbaijan, Baku, Feb. 21/ Trend F.Milad/
Syria and Iran signed a free trade agreement on Monday that will come into effect in one month, aiming to cut customs charges to zero.
"Our estimation of the bilateral meetings with the Iranian side has always been good and in the interests of the Syrian and Iranian peoples. An agreement has been made to accelerate procedures to carry out the treaty," Assistant Economy Minister Khaled Salouta, who signed from the Syrian side, said, according to the SANA new sagency.
He added that the free trade zone agreement between Syria and Iran was signed during President Bashar al-Assad's visit to Tehran in September 2010, and was endorsed in May 2011.
The annual trade between Iran and Syria is $500 million. Moreover, Iran annually exports $1.7 billion of its technical and engineering services to Syria.
The two sides have agreed to boost their annual trade to $5 billion in the near future.