Iran, India to Launch FTA for Broadening Bilateral Ties in Agricultural Sector
TEHRAN (Tasnim) – With the agreement of the Indian side, a Free Trade Agreement (FTA) will be launched between Tehran and New Delhi in the field of agriculture, the deputy head of the Trade Promotion Organization of Iran for the international businesses said.
Speaking in an interview with Mehr news agency (MNA), Mohammad Sadegh Qannadzadeh said expert-level talks have been conducted in the field of launching a Preferential Trade Agreement with India but the Indian side is interested in launching a Free Trade Agreement with Iran to boost bilateral ties.
The FTA between Tehran and New Delhi will be conducted in the field of agricultural products, the deputy TPOI stated.
Iran exported 3.8 million tons of non-oil goods, valued at $1.1 billion, to India in the first half of the current Iranian calendar year (March 21 to September 22, 2023), showing a 68 and 15 percent hike in weight and value respectively compared to last year’s corresponding period.
Iran imported 775,000 tons of goods, valued at $987 million, from India, registering a 17 and 31 percent decline in weight and value respectively.