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Iran-Syria FTA to boost textile & garment trade

01
May '12
The implementation of the Free Trade Agreement (FTA) between Iran and Syria would benefit the garment and textile sectors of the two economies, Iran's Minister of Industry, Mine and Commerce, Mehdi Ghazanfari, said.

Speaking on the sidelines of the first ever exclusive exhibition of Syrian items in Tehran, the Minister said Syria possesses great potential in several industries including textiles, while Iran presents good trade opportunities on industrial and technological front. This could help the two countries to promote trade relations that are mutually beneficial, he added.

All existing trade tariffs between the two economies will be fixed at four percent under the FTA, the Minister said.

It is due to the reputation of Iranian textile and clothing industry that over 60 percent of the Syrian entrepreneurs and firms participating in the expo are showcasing textile and clothing items, Mohammed Hamoud, the Syrian official in charge of the event said.

Fibre2fashion News Desk - India


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