“Iran’s trade regime has been updated and reviewed and we hope we will be able to send it to the WTO's General Council in the near future,” Minister of Mine, Industry and Trade Mohammad Reza Nematzadeh said.
A trade regime is a system of tariff and non-tariff policies and export incentives which aim to protect domestic producers.
Iran’s bid for accession into the World Trade Organization has long faced the US veto. Washington agreed to drop its opposition as part of a preliminary nuclear agreement in November 2013.
“Correspondence has been made with all the ministries in order to pave the way for accession into WTO and we hope to advance work with the efficient councils as soon as possible,” Nematzadeh said.
The minister cited intellectual properties as one of the “very important” areas key to the WTO accession.
“In this regard, we are trying to fast-track our attention to intellectual properties with the removal of sanctions.”
Iran is currently in talks with the US and its allies over Tehran’s nuclear program amid hopes they would lead to a final solution.
For the WTO membership, Iran has to radically restructure its economy, slash tariffs and reduce state ownerships.
Netmazadeh tried to assuage worries. “Certain individuals are worried about Iran’s membership in the World Trade Organization and harm to the country’s production.
“However, these worries are misplaced because the law has envisaged exceptions and if we realize that a certain production sector is being harmed we will definitely apply anti-dumping systems,” he said.
The 161-member organization regulates international commerce, requiring member states to open their market to foreign goods which could threaten local producers.
Membership is a lengthy process and also involves bilateral negotiations with the members.
