Iran to reduce import duties on vegetable oils from Kazakhstan

Kazakhstan’s Committee for economic policy, innovative development and entrepreneurship considered at its broadened meeting a draft Law “On ratification of the Temporary Agreement leading to the formation of a free trade area between the Eurasian Economic Union and its member states on the one part and the Islamic Republic of Iran on the other part”.

Under the Agreement, the Iranian party shall reduce import customs duties on 864 goods, including 262 agricultural ones. It is envisaged to cut customs duty rates for vegetable oil to 10% from the present 20%, reports UkrAgroConsult.

The Agreement will come into force in 60 days after the completion of the ratification procedures and it will be valid for three years. Within a year, it is planned to start talks for signing a permanent agreement on a free trade area between the parties.

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