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FINANCIAL NEWS
Iran passes FTA with Syria
27 Jan 2012
(MENAFN) Iranian President, Mahmoud Ahmadinejad, has endorsed the free trade agreement (FTA) with Syria, which was ratified by Iran’s parliament, reported Tehran Times.
The agreement was inked after the parliament passed a bill for free trade between Syria and Iran within the coming five years.
The agency added that last month, the two countries inked the deal to enhance bilateral trade, mainly in industry, mining and agriculture.
According to Iran’s deputy economy minister, Hamid Safdel, the agreement would boost annual trade between the two sides to USD5 billion.
It is worth noting that trade value between Syria and Iran, excluding technical and engineering services exports, reached USD336 million in 2011.
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