Economy, Domestic Economy

PTA With Turkey to Be Revised

PTA With Turkey to Be RevisedPTA With Turkey to Be Revised

Iran and Turkey are considering revising the import tariffs on some commodities listed in their bilaterally signed preferential trade agreement, deputy minister of industries, mines and trade, Valiollah Afkhamirad, told Mehr News Agency.  The PTA, which was signed between the two countries in January 2014 and came into effect in January 2015, allows both sides to revise import tariffs or change some items in the list every three months to protect their domestic industries, said Afkhamirad. “Accordingly, Iran is planning to increase import tariffs on some Turkish commodities whose imports have increased sharply because of the PTA,” he said. Turkish experts visited Iran last week to discuss the revised tariffs and commodities with Iranian officials.