Iran to reduce import duties, including for Armenia

  19 July 2015    Read: 1688
Iran to reduce import duties, including for Armenia
Iran will reduce duties on imports, including goods from Armenia,as soon as the western sanctions are lifted, Armenian economist Gagik Makaryan told reporters.

During the years of sanctions, Iran set a very high import duties to create demand for its industry at least at home under conditions of closed export. Therefore, the country is largely trying to provide itself. But now, when the road is open to Iranian exports, the question of opening the Iranian market for other countries is being raised.

In line with the agreement, Iran is supposed to drastically reduce the stock of low-enriched uranium, as well as dismantle some key nuclear facilities, such as heavy water reactor in Arak and Fordow underground enrichment plant. In return, the EU and the U.S. will lift oil embargo and other trading limitations, as well as will allow Iran to access to Swift electronic banking system.

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