Iran Has 5% Share in World’s FTAs: TPOI

The deputy head of the Trade Promotion Organization of Iran (TPOI) for international businesses said more than 50% of trade in the world is done through the free trade agreements (FTAs), a 5% share of which belongs to Iran.

Free trade agreements have created good capacities for countries to expand and develop their trade relations, Mohammad Sadegh Qannadzadeh said, adding that Iran should take advantage of the opportunity created to boost its trade within the framework of FTAs.

He pointed to the first-ever FTA inked between Iran and the Eurasian Economic Union (EAEU) and noted that the finalization of the agreement will help the country expand its trade with other countries in the international arena.

Using the capacity of developing free trade agreements has started in the country, which can be considered as a giant step for entering competitive markets, the deputy TPOI emphasized. He went on to say that 10 other free trade agreements have been formulated at the organization for enhancing trade relations with the target markets. - Tasnim