Hamid Dehghan, an Iranian deputy trade minister, said on Monday that Iranian and Venezuelan officials are discussing final points about the free trade deal between the two countries, including the list of goods and commodities that would enjoy zero tariffs under the agreement.
Dehghan made the announcement during a meeting in Tehran with Johann Alvarez, Venezuela's vice minister for Foreign Trade and Investment Promotion.
He said that the free trade deal would serve the interests of Iran and Venezuela in an “equal and friendly” manner and would lead to an increase in Venezuelan exports to Iran.
“Iran and Venezuela can become trade bases for each other in Asia and South America,” said the official.
Reports said that Iranian and Venezuelan officials have been discussing safety and hygiene regulations about a list of agricultural, fishery, and manufacturing products that would enjoy zero tariffs in the free trade agreement between the two countries.
They said that the deal could also lead to an increase in the number of joint investment projects between Iran and Venezuela.
Dehghan said that Iranian and Venezuelan trade ministers will sign the free trade deal as soon as the two countries agree on the final draft of the agreement.
Alvarez also said that trade between Iran and Venezuela could increase significantly under the free trade arrangement, as he insisted that the current level of bilateral trade does not reflect the true state of warm relations between the two countries.
He said Venezuela expects to receive more investment from Iran after the signing of the free trade agreement, adding that the South American country’s huge resources offer unique investment opportunities for Iranian businesses and companies.
MNA