TEHRAN- According to the agreements made between Iranian and Indian high ranking officials, the two sides are to sign a preferential trade agreement (PTA) in near future, India’s ambassador to Tehran announced.

As Saurabh Kumar announced in a conference held at the place of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) on Wednesday, Iran and India are getting prepared to sign two agreements; a PTA and a joint investment one, IRNA reported.

“The PTA will be penned during an Iranian delegation’s tip to India,” he said.

Iran-India trade volume can reach from its present $15 billion per year to $20 billion, the ambassador said, if the conditions would be prepared.

To abandon U.S. dollar in mutual financial transactions, “UCO BANK is the Indian bank which facilitates trade cooperation with Iran relying on Rupee,” Kumar added.

HJ/MA