Iran, Syria to remove customs charges on bilateral trade

TEHRAN,Feb.21(MNA)--Syria and Iran on Monday signed a deal to remove customs charges for all trade between the two states. The deal, which will come into effect in a month, will establish a free trade zone that will apply to the $500 million of annual trade between Syria and Iran. The agreement was made during Syrian President Bashar al-Assad's visit to Tehran in September 2010, and was endorsed in May 2011. In addition to the $500 million of annual trade between Iran and Syria, the Islamic Republic annually exports $1.7 billion of its technical and engineering services to Syria. The two sides have agreed to boost their annual trade to $5 billion in near future.