World Bulletin / News Desk

After signing the nuclear deal with world powers in P5+1 format, Iran is preparing to and keen on entering World Trade Organization. Besides Tehran is also interested in a preferential trade deal with the EU, says Industry Minister Mohammad Reza Nematzadeh.

"Iran is preparing to join the WTO, and one political obstacle has already been overcome. Tehran is also interested in the negotiations with the EU and Central Asian countries in establishing preferential treatment in trade," said Nematzadeh, speaking at a conference on investment and trade between Iran and the EU in Vienna.

Nematzadeh also noted that the only trade his country is interested in is "two-way trade". "We are no longer interested in a unidirectional importation of goods and machinery from Europe," he said. 

The world’s developing economies, BRICS and Shanghai Cooperation Organization (SCO) are also interested in strengthening ties with the Iran. In July, Iranian President Hassan Rouhani attended the BRICS and SCO summits in Ufa, Russia to discuss various questions with Russian President Vladimir Putin and leaders of other nations that attended the summits. Iran’s joining the SCO after the embargo is withdrawn was among the questions raised. Iran now has an observer status with the bloc.

Last week Iran and the six international negotiators (the US, UK, France, Germany, Russia and China) signed a long-awaited deal on the Iranian nuclear program. The problem was on the agenda for more than a decade. Tough negotiations culminated in the adoption of a joint comprehensive action plan. If Iran manages not to breach the settlement, it will be freed from economic and financial sanctions by the UN Security Council, the United States and the European Union. The UN watchdog the International Atomic Energy Agency is to confirm the deal by verifying the Iran has complied with the nuclear-related measures.