Head of Trade Promotion Organization of Iran (TPO) Mehdi Zeighami has expressed hope that the annual trade between Iran and Belarus will reach as much as $400 million within the next two years.
Zeighami made the remarks on the sidelines of the 16th Iran-Belarus Joint Commission session which was held in the Iranian capital on Tuesday.
The commission session was co-chaired by Iran’s Minister of Industry, Mine and Trade Abbas Aliabadi and his Belarusian counterpart Aleksandr Rogozhnik.
Zeighami referred to a preferential trade agreement in place between Iran and the Eurasian Economic Union (EAEU) and plans to turn it into a free trade agreement in the near future, noting that the agreement could give a more rise to the volume of trade between Iran and Belarus and other Eurasian nations.
During today’s commission session, the two sides explored ways for further cooperation in different areas such as exports and imports of agricultural products and machinery, mining and public transportation vehicles, medicine and pharmaceuticals, and petrochemical products. They also had discussions over sports cooperation.
In the end, the two ministers signed a memorandum of understanding.