The lawmakers at the Iranian Parliament, also referred to as “Majlis”, have removed some inconsistencies in the preferential trade agreement (PTA) between Iran and Indonesia.
The amendments are made after the Iranian Guardian Council refused to endorse the agreement already approved by Majlis.
The PTA was signed between Iranian former president Ebrahim Raisi and his Indonesian counterpart Joko Widodo in Jakarta on May 23, 2023.
The agreement requires the two Muslim countries to reduce tariffs on exports and imports of certain goods and products.
Under the terms of the PTA, Iran lowers tariffs on imports of products like processed food and pharmaceuticals, textile, palm oil, coffee and tea from Indonesia while Indonesia will give easier and greater access to its market for Iranian oil and chemical products, metals and some dairy products.