Senior officials of India and Iran are likely to hold fifth round of negotiations for a bilateral preferential trade agreement (PTA) here this month, an official said.
Till now, four rounds of negotiations have been completed and the last one was held in March in Tehran where both countries discussed draft text of the pact.
“Both sides have tentatively agreed to hold the fifth round of talks here this month,” the official added.
Unlike in a free trade pact, where two trading partners significantly reduce or eliminate duties on maximum number of goods traded between them, PTA involves removal of duties on certain identified products.
