Govt clears India-Iran MoU for expert group on trade remedy measures

The government today gave an ex-post facto approval to an agreement with Iran to set up an expert group on trade remedy measures and promote cooperation in areas of mutual interest.

The decision to grant ex post facto approval to the Memorandum of Understanding (MoU) was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi here.

The MoU is aimed at establishing a framework of cooperation in the area of trade remedial measures, like anti-dumping and countervailing duty.

The pact was signed on February 17 this year during the visit of the President of Iran. "The MoU will promote cooperation between the two countries in area of trade remedies such as exchange of information, capacity building activities, cooperation in investigations related to anti-dumping and countervailing duty, etc," an official statement said.