Iran, Syria ready to activate preferential trade agreement

Business Materials 20 June 2018 10:31 (UTC +04:00)

Tehran, Iran, June 20

By A. Shirazi - Trend:

Iran's Minister of Economy and Financial Affairs Masoud Karbasian said Tehran and Damascus are ready to implement a preferential trade agreement (PTA).

Iran is ready to develop its bilateral ties with Syria in a range of areas, Karbasian said during a meeting with Syrian Minister of Economy and Foreign Trade Mohammad Samer al-Khalil in Tehran, Mehr news agency reported on June 20.

He added that the two countries could exchange their goods under a preferential trade agreement that lowers customs duties.

Only Iranian- and Syrian-made goods should be added to the categories of goods so that foreign products cannot benefit from the PTA benefits, the minister further said.

Karbasian said Iranian engineers and companies are ready to help in the reconstruction plans of the war-torn country.

Samer al-Khalil, for his part, said Iran and Syria have good potential to enhance their cooperation in various fields, particularly in the area of customs, adding that Iran can start its activities in Syria’s free trade zone.

Earlier on Monday, Khalil discussed with Iranian Minister of Roads and Urban Development Abbas Akhoundi ways of enhancing mechanisms of economic, trade, financial and investment cooperation between Syria and Iran.

Akhoundi heads the Iranian side of Syria-Iran Ministerial Economic Committee.

The two sides discussed a long-term strategic economic agreement that links Syria with Iran, which is based on economic relations in all their forms during the coming period.

Al-Khalil affirmed eagerness to develop economic, investment, financial, commercial and banking relations between the two countries and reconstruction in Syria.