Mumbai: “The Parliament of Iran has recently approved the Double Taxation Avoidance Agreement (DTAA) with India. I hope this will promote ease of doing business and bilateral investment. Both the countries are also negotiating trade agreements to reduce customs and tariffs. The newly built Chabahar Port and Makiran Port will promote India’s trading ties with Iran, West Asia and Central Asia.
The current volume of bilateral trade stands around US$ 11 billion, which is below the potential. India and Iran have potential for cooperation in oil and gas, renewable energy, mining, copper, aluminum and other sectors. We are opening various sectors for investment by private companies. We have also created a system for identifying credible private companies and registering them.
From my meetings with industry in India, I have learnt that many private companies are willing to have commercial relationship with Iran,” said Hamid Reza Foladgar, Head of the Delegation while delivering the keynote address at an interactive meeting with the High Level Parliamentary Delegation of the Islamic Republic of Iran.
The meeting was organised by MVIRDC World Trade Center Mumbai and All India Association of Industries (AIAI). Foladgar further added, “The key drivers of our bilateral relationship are similarities in Persian and Indian languages, ethnic, religious and racial commonalities. People of Iran have great respect for Mahatma Gandhi, the father of India.
In January 2019, the Minister of Foreign Affairs of the Islamic Republic of Iran visited India to discuss bilateral relations. Now I expect this visit to be followed by the visit of President of Iran to India and also the visit of the speaker of the Parliament of Iran. We must also strengthen the role of India-Iran Chamber of Commerce to promote bilateral commerce.”
Speaking about the US sanction on Iran, Foladgar said, “US has imposed sanction on Iran despite the International Atomic Energy Agency (IAEA) expressing satisfaction about Iran’s compliance with the nuclear agreement. Government of USA must reconsider its sanction in the absence of credible evidence of violation of the nuclear agreement.”
In his remarks, Khosroo Rezazadeh, Consul General of The Islamic Republic of Iran said, “This is the right time for India and Iran to enhance their commercial partnership. India is the only country in this region to secure waiver from US sanction for importing crude oil from Iran. This shows the diplomatic influence of India in this region.
It will be a pity if business communities from both the regions do not use this opportunity to enhance trade ties. Government of Iran offers e-visa for six months for Indian businessmen visiting Iran. In order to promote tourism, the government also offers visa on arrival.”