In an open session of the Parliament on Wednesday, the lawmakers passed a bill on preferential trade agreement between Iran and Indonesia after discussing a report from the Parliament’s Economic Commission in that regard.
Deputy Minister of Agriculture Alireza Paymanpak said the PTA has been ratified by the Parliament following considerable efforts by the Trade Promotion Organization of Iran after President Ebrahim Raisi took office in August 2021.
This is the first preferential trade agreement between Iran and a country in the East Asia and Pacific region.
This agreement had come to a standstill for seven years.
The PTA is expected to promote the level of bilateral cooperation and also create proper facilities in economic relations between Tehran and Jakarta.