In a bid to boost ties between the two countries, Federation of Indian Chambers of Commerce and Industry of India (FICCI) and the visiting delegation from Iran held an interaction in New Delhi.

During the interaction, Dr. Masoud Karbasian, Minister of Economic Affairs and Finance of the Islamic Republic of Iran, said here today that enforcement of the double taxation avoidance agreement and extension of preferential tariff would give a fillip to trade and investment between Iran and India.

The Iranian Minister said his country has always been a reliable and safe provider of petroleum and natural gas to Indian oil companies and expressed confidence that the Trilateral Transit and Transport Agreement between Iran, India and Afghanistan will give a fillip to Iran-India trade and investment.

He said that the OECD had projected a positive outlook for the Iranian economy which is targeted to grow at 8% this year. Due to Iran’s capacity to create a knowledge economy owing to its young and skilled workforce, education and scientific talent of global standards, the private sector from both sides need to intensify their collaboration reap mutual benefits.

On the occasion, FICCI and Iran Chambers of Commerce, Industry, Mines and Agriculture (ICCIMA) signed an MoU to further strengthen economic relations by expanding and deepening commercial, trade and investment cooperation.

Under the signed MoU, both organisations will support activities such as seminars, conference, business meeting in India and Iran, respectively. The two organizations will also facilitate exchange of eminent scholars and business professionals.

The MoU envisages that as a trade promotion exercise, both organisations will support trade delegations and coordinate the programme for the visiting delegations in India and Iran.