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Iran, Syria remove bilateral trade tariffs: Minister

Iran, Syria remove bilateral trade tariffs: Minister. Image Source: IANS News

Tehran, Aug 1 : Iranian Minister of Roads and Urban Development, Mehrdad Bazrpash, has announced that Iran and Syria have eliminated bilateral trade tariffs, media reported.

Bazrpash made the announcement on Monday at a meeting of the heads of the Iran-Syria Joint Economic Commission co-chaired by visiting Syrian Minister of Economy and Foreign Trade Mohammad Samer al-Khalil in Iran’s capital Tehran, Xinhua news agency reported.

Besides, Iran and Syria agreed to use their national currencies, the Iranian rial and the Syrian pound, in bilateral trade if possible, according to the Minister.

Many of the cooperation documents signed during Iranian President Ebrahim Raisi’s visit to Syria in early May have produced favourable results, he noted.

The two countries have established a joint insurance company that provides services for Iranian and Syrian companies, passengers and tourists, said Bazrpash, adding Syria is expected to provide Iran with appropriate and high-capacity wharfs and backshores.

The Syrian Economy and Foreign Trade Minister arrived in Tehran on Monday, along with the country’s Foreign Minister Faisal Mekdad and Communications and Technology Minister Iyad Mohammad al-Khatib, for talks with high-ranking Iranian officials and following up on the implementation of previously-signed bilateral agreements.

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