The vice-chairman of Iran-India Joint Chamber of Commerce said trade between two countries is expected to return to normal within one or two weeks. The coronavirus pandemic has affected trade between them.
In mid-February, a new round of negotiations hold by Iran and India on signing a preferential trade agreement (PTA) between the two sides. The negotiation on this agreement, initiated in 2016, is said to be in the final stages. In the next round of the talks, the two sides hope that the list of the commodity items entitled to preferential tariffs will be finalized.
The two countries during the previous (fourth) round of the negotiations discussed the draft text of the agreement which is to reduce tariff rates by 25-45 percent. In the fifth round of the talks, some clauses of the pact remaining from the previous talks were reviewed and discussed.
