FICCI-ICCIMA to strengthen economic relations

Enforcement of the double taxation avoidance agreement and extension of preferential tariff would give a fillip to trade and investment between Iran and India.

Stating this, Iran’s Economic Affairs and Finance Minister Dr. Masoud Karbasian, said his country has always been a reliable and safe provider of petroleum and natural gas to Indian oil companies.

He expressed confidence that the Trilateral Transit and Transport Agreement between Iran, India and Afghanistan will give a fillip to Iran-India trade and investment.

Dr. Karbasian was addressing an interactive meeting with Indian and Iranian business leaders, organised by the Federation of Indian Chambers of Commerce and Industry of India on 17 Feb 2018 during President Dr state visit to India.

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.

ICCIMA President Gholam Hossein Shafei in his remarks, underlined the need for elimination of discriminatory trade tariffs and banking irritants to lay the foundation of sustainable economic and business relations between the two countries.

He urged Indian business to take advantage of the investment opportunities that Chabahar port will throw up.

V. S. Sahney, Senior National Executive Member, FICCI and Chairman, Sun Group, pointed out the immense strategic and economic significance for India from Chabahar Port.

India has already spent US$100 million to construct a 218 km-long road from Delaram in western Afghanisatn to Zaranj on the Iran-Afghan border to link up with Chabahar.

India, he said, would have to use the Chabahar project as a lynchpin to integrate it with its larger connectivity project – the International North South Transport Corridor.

Ambika Sharma, Director General, International, FICCI, stated that FICCI was engaged in exploring new avenues for enhancing two-way business relations.

FICCI, she said, could partner with Iran in the area of people-to-people contact and trade and commerce.

She emphasised that transit and connectivity, infrastructure, oil and gas, petrochemicals, steel and machinery and agriculture were the primary areas for cooperation.

In terms of the MoU, FICCI and ICCIMA will exchange information on economic and commercial matters which will enhance co-operation between Indian and Iran enterprises, in particular, about products and industrial processes, offers and requests for joint ventures and identification of possible partners.

The MoU was signed by Ambika Sharma on behalf of FICCI and Mohammad Reza Karbasi, Vice President, International Affairs, ICCIMA.

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. fii-news.com