BAKU, Azerbaijan, March 4. Iran is holding negotiations with ten countries to sign free trade or preferential trade agreement, Deputy Minister of Industry, Mines and Trade of Iran, Chairman of the Trade Promotion Organization Mohammad Ali Dehghan Dehnavi told reporters, Trend reports.
According to him, some of these discussions are already in their final stages.
The official failed to specify the countries with which negotiations are underway.
Dehnavi added that if the sanctions against Iran are lifted, the agreements that Iran will reach with other countries on free trade or preferential trade can greatly help the country's economy. The reason is that 30 years ago, international trade was a top priority with membership in the World Trade Organization (WTO). Currently, regional alliances are more conducive to the development of trade between countries.
"Iran can increase its economic role through cooperation with regional alliances or permanent membership," he noted.
On December 25, 2023, a free trade agreement was signed between Iran and the Eurasian Economic Union in Saint Petersburg, Russia. After the agreement comes into force, it's predicted that trade turnover will reach $18-20 billion within five to seven years.
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