Signing of Trade Preference Agreement between Indonesia and Iran
- June 8, 2023
Minister of Trade of the Republic of Indonesia, Zulkifli Hasan together with Minister of Foreign Affairs of the Islamic Republic of Iran, Hossein Amirabdollahian signed the Trade Preference Agreement between the Government of the Republic of Indonesia and the Government of the Islamic Republic of Iran (Indonesia–Iran Preferential Trade Agreement/II-PTA), at the Bogor Palace, West Java, Tuesday (May 23).
The signing was witnessed directly by the President of Indonesia, Joko Widodo and the President of Iran, Seyyed Ebrahim Raisi.
The Minister of Trade emphasized that through this agreement, Indonesia can increase exports to a wider market, especially to non-traditional trading partner countries such as Iran.
The II-PTA Agreement with Iran is Indonesia’s second trade agreement with a country in the Middle East after the IUAE-CEPA with the United Arab Emirates. Although the scope is limited, the II-PTA agreement is an important infrastructure in optimizing the potential of bilateral trade between the two countries.
The II-PTA agreement is also a means that can increase competitiveness and be able to penetrate the Iranian market and countries in the West Asian region in general.
Source: https://www.kemendag.go.id/berita/foto/penandatanganan-persetujuan-preferensi-perdagangan-antara-indonesia-dan-iran