TEHRAN, May 20 (MNA) – Indonesian Trade Ministry has announced that Jakarta and Tehran have concluded the final stage of negotiations on a bilateral trade agreement, and Indonesia will sign a trade deal with Iran next week.


The announcement came after the two sides finished a seventh round of talks, and the Indonesian Trade Ministry said on Wednesday that the governments could now proceed to sign the documents on the deal, which is called the Indonesia–Iran Preferential Trade Agreement (II-PTA), Borneo Bulletin reported.

The ministry said Indonesia and Iran would sign the trade agreement during a visit of Iranian President Ebrahim Raeisi to Jakarta between May 22 and 24.

“Iran is a non-traditional trade partner for Indonesia. With this PTA, we hope to widen our export opportunities and expand our market reach,” said the ministry’s director of bilateral negotiations Johni Martha.