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India-Iran Ties to Get a Boost with DTAA

Mar 30, 2019

An interactive meeting headed by Mr. Hamid Reza Foladgar, Member of Parliament of Iran along with the High-level Parliamentary Delegation of the Islamic Republic of Iran was organised by MVIRDC World Trade Center Mumbai in association with All India Association of Industries. Mr. Foladgar said, “The Parliament of Iran has recently approved Double Taxation Avoidance Agreement (DTAA) with India. I hope this will promote ease of doing business and bilateral investments. Both countries are also negotiating trade agreements to reduce customs and tariffs. The newly-built Chabahar and Makiran Ports will promote India’s trading ties with Iran, West Asia and Central Asia. We are opening various sectors for investment by private companies and have created a system for identifying credible private companies for registration.”

Mr. Khosroo Rezazadeh, Consul General, Consulate General of Islamic Republic of Iran in Mumbai said, “India is the only country in this region to secure waiver from US sanctions for importing crude oil from Iran. Business communities from both regions must use this opportunity to enhance trade ties. Government of Iran offers e-visa for six months for Indian businessmen visiting Iran. In order to promote tourism, the government also offers visa on arrival. Indian tourists must visit Iran through luxury ships from Mumbai to Chabahar Port, which is connected to the capital city of Tehran through rail ”

Mr. Rezazadeh, “I invite Indian traders to share their concerns with us. You can also approach my office in Mumbai to resolve issues related to trade and investment. Both countries must find ways to overcome the constraints on bilateral trade and investment arising from the US sanction.”

Mr. Vijay Kalantri, Vice Chairman, MVIRDC World Trade Center Mumbai said, “Chabahar Port has opened new vistas of trade and investment opportunities between both countries, specifically, commercial cooperation in areas such as mining, agro-processing, crude oil, energy, textile, capital goods. Both countries must strengthen their banking and insurance ties to facilitate commercial partnership. Both countries must also resolve the impediments in building road connectivity via Afghanistan. There should also be frequent exchanges of trade delegations to explore new areas of commercial ties.”

Mr. Siddhartha Rastogi, Managing Director, Ambit Capital shared India’s lessons and experience in privatisation of state-owned enterprises.

In Photo:

Mr. Hamid Reza Foladgar (2nd right) being felicitated by Mr. Vijay Kalantri (3rd right) Also seen (L-R): Mr. Siddhartha Rastogi, Mr. Khosroo Rezazadeh and Ms. Rupa Naik.