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States » SouthPosted at: Jan 11 2021 7:48PM


Indo-Iran preferential Trade Agreement soon: Iranian Consul General

Hyderabad, Jan 11 (UNI) Consul General of Islamic Republic of Iran, Muhammad Hossein Bani Assadi on Monday said that Preferential Trade Agreement between India and Iran will be signed soon and this will enhance the trade, as both the countries have huge potential to touch the staggering figure of $ 10 billion trade.
Houssein Bani Assadi, on his maiden visit to the Federation of Telangana Chambers of Commerce and Industry (FTCCI), said Iran and India have the potential to cater to each other’s needs provided the businessmen have the exposure to the available opportunities.
He offered to start barter trade with Iran to facilitate the businessmen and to jack-up the volume of two-way trade.
He said that the business community in the two countries would have to increase interaction to share their experiences in the larger interests of the people of two brotherly nations.
He said that Chambers of Commerce in the two countries would have to focus on expansion of trade by holding single country exhibitions and through trade delegations to each other’s country.
Speaking on the strategic port of Chabahar in Iran, he said that it is being developed to build a transport-and-trade corridor through Afghanistan giving India access to global markets. The construction of this port assumes significance as it will allow bypassing the route for accessing markets in Europe and Central Asia and also save on time and cost of doing business.
During the meeting, FTCCI President Ramakanth Inani, said that FTCCI is working closely with the Consulate General of Islamic Republic of Iran, Hyderabad, to promote the trade between the two countries by organizing interaction meetings with the business delegations on a regular basis. With a view to further build on these initiatives and leverage the potential of India-Iran synergies, a Chamber of Commerce for Iran Trade Promotion has been formed.
FTCCI had also signed MoUs with Iran Chamber of Commerce, Industries and Mines, Mashad Chamber of Commerce, Tehran Chamber of Commerce, Chamber of Commerce and Industry of Khorasan Razavi and also with Commercial Organization of Khorasan Province, to foster friendship and to promote trade, investment, social, economic, human resource development, technical and scientific cooperation and all other spheres of economic activity.
Business delegations from FTCCI also visited Iran and most of them have entered into business contacts with their counterparts.
Indian exports to Iran between 2011-12 and 2019-20 have grown by 45.60 per cent. The bilateral trade during 2019- 20 was $4.77 billion India’s major exports to Iran include rice, tea, sugar, soya, medicines/ pharmaceuticals, man-made staple fibres, electrical machinery, etc. Major imports from Iran include inorganic/organic chemicals, fertilizers, cement clinkers, fruits and nuts, leather.
The Meeting was also participated by Mr. Khodadad Nejad Asad, First Consul of the Mission., Mr. Syed Tamjeed Hyder, Public Relations Officer, Consulate General of the Republic of Iran., Mr. K. Bhasker Reddy, Senior Vice President and Ms. Khyati Naravane, CEO of FTCCI presented their views on enhancing the trade.
UNI KNR SHK1948
Tags: #Indo-Iran preferential Trade Agreement soon: Iranian Consul General
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