Iran, Belarus ink customs co-op agreement

Business Materials 24 May 2017 18:23 (UTC +04:00)

Baku, Azerbaijan, May 24

By Fatih Karimov – Trend:

Iran and Belarus inked a memorandum of understanding for cooperation in customs affairs.

The document was signed by Head of Iran’s Customs Administration (IRICA) Masoud Karbasian and Chairman of the State Customs Committee of Belarus Yuri Senko on May 24, the IRICA reported.

Upon implementation of all provisions of the newly-signed document, the sides will exchange customs and trade information.

The document also envisages acceleration of customs formalities and inspections as well as mutual recognition of Authorized Economic Operators (AEO).

Mutual trade between Tehran and Minsk stands at $40 million per year. According to a roadmap drawn in May 2016 and signed in Minsk, the two countries set different commercial, industrial, joint venture projects to increase the trade exchange to $250 million at the end of 2017.