Iran-Oman preferential trade agreement sent to Parliament for final review
Iran’s preferential trade agreement with Oman has been finalized after completing the required administrative procedures and has been sent to the parliament for final review.
Abdolamir Rabihavi, director general of the West Asia Office at the Trade Promotion Organization of Iran (TPO), said the agreement is expected to be placed on the parliament’s agenda next month.
If approved and implemented, the agreement, which aims to remove tariff and non-tariff barriers, could serve as a catalyst for the growth of trade and investment and help diversify Iran’s economy amid sweeping western sanctions.
Rabihavi also said preliminary work and initial negotiations have been carried out to update Iran’s preferential trade agreement with Turkey, expressing hope that tangible results will be achieved in the coming months.
Iran and Turkey have a preferential trade agreement that took effect in 2015. However, the agreement is now outdated, and officials from both countries believe its provisions can be revised to expand the scope of preferential trade.
Rabihavi also identified the organization of border markets with Iraq and Turkey as another priority for the TPO.
“Working with border provinces, including West Azarbaijan, Kermanshah, Kurdestan, Ilam and Khuzestan, we have reopened inactive border markets,” he said. “In addition, by approving and submitting lists of goods and coordinating the allocation of import codes and customs procedures, effective steps have been taken to expand trade with these western neighbors.”
He added that good progress had also been made in using the capacity of Iran’s southern ports to expand trade with neighboring countries such as Qatar and Oman.
Among the measures, removing obstacles related to temporary import procedures at Jask Port has increased the port’s capacity to develop trade with regional countries. Similar efforts are also under way at other customs offices and have produced positive results, he said.
“These measures demonstrate the Trade Promotion Organization’s comprehensive approach to making use of regional capacities and removing legal and infrastructural barriers to strengthening Iran’s position in global trade.”