Iran private sector pushes for preferential trade agreement with India

President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Gholam Hossein Shafei has once again stressed the need for signing a preferential trade agreement between Iran and India.

19 July 2022
ID : 33891
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President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Gholam Hossein Shafei has once again stressed the need for signing a preferential trade agreement between Iran and India.

President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Gholam Hossein Shafei (R) meets with new Iranian Ambassador to New Delhi Iraj Elahi in Tehran, Iran July 17, 2022.

President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Gholam Hossein Shafei has once again stressed the need for signing a preferential trade agreement between Iran and India.

Speaking during a meeting with the new Iranian Ambassador to New Delhi Iraj Elahi, the Iran Chamber of Commerce chief also called for the removal of banking obstacles on the way of relations between Iran and India.

Underlining the significance of transportation in cooperation with India, Shafei said that Iran has to play a more active role in the International North-South Transit Corridor (INSTC).

Iran and India have also been actively cooperating in transit between the East and the West through the Silk Road, he noted.

Shafei stressed that trilateral cooperation between Iran, India, and Russia can bring about exemplary trade and transit opportunities for Iran.  

He regretted that despite years of follow up by the Iranian side and the initial agreements, Iran and India have failed to finalize a preferential agreement yet.

Some other countries have made agreements with India and are enjoying high tariff advantages in trade with the country, the Iran Chamber of Commerce chief said.

In the meantime, the Iranian ambassador to India said that India’s membership in key multilateral organizations, notably BRICS and Shanghai Cooperation Organization (SCO), is a major advantage that has to be taken into account.

Elahi also referred to India’s big market and high economic growth and said that in spite of some concerns, in general, a bright future is expected for the economy of this country. 

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