Iran, Lithuania Working to Ease Bilateral Trade
Economy, Domestic Economy

Iran, Lithuania Working to Ease Bilateral Trade

Negotiations are underway with Iran’s Ministry of Industries, Mining and Trade to reduce 50% of customs duties on imports from and exports to Lithuania, says the head of Iran-Lithuania Commerce Council.
Mehrdad Motamedi added that the move would incentivize other European countries to export their goods to Iran through Lithuania.
According to the latest figures, Iran exported €375 million worth of goods to the European country in the past two months. This is while the figure was less than €180 million some four months ago.
In recent months, imports from Lithuania were a meager €140 million, ISNA quoted Motamedi as saying.
Andrius Krivas, vice minister of foreign affairs of Lithuania, visited Iran last month to discuss ways of expanding economic relations, inter-banking ties in particular, between the two countries.
“A 40-member Lithuanian delegation headed by director general of the Association of Lithuanian Chambers of Commerce, Industry and Crafts, Rimantas Sidlauskas, visited Iran around 10 days ago. A memorandum of understanding was signed between representatives of Lithuanian companies and Iranian producers of glass and furniture,” he said on Friday.

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