Iran, Thailand trade exchange to reach $3b in 5 years: Thai minister

EghtesadOnline: Thailand Minister of Commerce Apiradee Tatraporn has said that Tehran and Bangkok have agreed on preferential trade tariffs and intend to raise bilateral trade exchanges to 3 billion dollars in 5 years.

News ID: ۷۷۰۳۳۳

13 October 2016

Speaking after the two countries joint trade committee meeting on Tuesday, the Thai minister said the two sides agreed to remove customs tariffs from 100 products.

According to the Bangkokpost Website, Tatraporn said the Iranian side proposed the preferential trade tariffs and since it is a fast way to facilitate bilateral trade, Thailand agreed with the proposal.

The Thai official said the feasibility studies of the proposal take about six months and its final approval needs Thailand's parliament green light, reports IRNA.

Iran has so far signed preferential trade tariffs with Pakistan and Turkey and wants to sign similar agreements with China, India, Russia, Armenia, Belarus, Kyrgyzstan, and Kazakhstan.

The Thai minister also said Iran plans to import Thai rice again which had been stopped due to anti-Iran sanctions.

Iran is Thailand's 9th trade partner in the Middle East. The two countries' trade exchange in 2015 hit $310m of which 217 million dollars was Thailand's exports to Iran.