68180
Tehran, Jakarta to Finalize PTA by Yearend
Economy, Domestic Economy

Tehran, Jakarta to Finalize PTA by Yearend

Indonesia and Iran have agreed to finalize negotiations on a preferential trade agreement by the end of 2017. Chief of the Indonesian team participating in the negotiation, Made Ayu Marthini, said the PTA is expected to increase bilateral trade from last year’s $338 million to $2 billion per year, Indonesian news agency Antara reported. Indonesia and Iran are optimistic about finalizing a PTA by the end of 2017 “to benefit the momentum of the implementation of Joint Comprehensive Plan of Action”, he said.
Indonesia and Iran on Sunday held a third round of negotiation in Tehran, after it was stalled in 2015. The two sides discussed a draft text of the agreement, including the list of commodities to be exchanged by their respective countries based on preferential tariffs.
The two countries agreed to establish a Trade Negotiating Committee in 2008 to negotiate the PTA. The first round of negotiations was held in 2010, followed by the second in 2015.
Bilateral trade between Indonesia and Iran during January-March increased significantly by 457.36%, compared to the same period of 2016.
Two-way trade reached $338.6 million in 2016, up 23.99% compared to $273.1 million in 2015.
According to the Indonesian Trade Ministry, bilateral trade in 2012 was recorded at $1.3 billion, down by $568.4 million in 2013. The figure dropped further to $448.7 million in 2014 and reached a record low in 2015.

Short URL : https://goo.gl/yGbVqT
  1. https://goo.gl/k2hRcM
  • https://goo.gl/eoxPWV
  • https://goo.gl/BCJpik
  • https://goo.gl/WjTzF9
  • https://goo.gl/A9dsPC

You can also read ...

Guidance Forum for Startups
The local accelerator Novintech is set to hold a Q&A...
Fresh Forex, Gold Coin Rally in Tehran Market
After a period of calm, the US dollar is once again surging in...
SpaceX founder Elon Musk says block 5 boosters should be able to fly 50 to 60 times with minimal refurbishment between flights.
Lighting up the deep overnight sky, a SpaceX Falcon 9 rocket...
Iran, Iraqi Kurdistan to Set Up  Industrial Town Along Border
The construction of an industrial city will soon start near...
Isfahan Airport to Increase Plane Parking Capacity
Isfahan International Airport’s parking project has started...
Iran-Europe Business Center Hosts Talks in Berlin to Foster Tech Ties
A meeting has been held between Iranian and European startups...
Seafood Exports Earn $50m in 2 Months
About 16,000 tons of seafood worth close to $50 million were...
Only 2% of Iranian Production  Units Have R&D Departments
From around 98,000 economic and industrial production units,...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus