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FinancialNews


  • 04-08-18

    Iran signs cooperation treaty with ASEAN

    (MENAFN) Iran has officially joined a friendship treaty with the 10-nation Association of Southeast Asian Nations (ASEAN), in a move which could lead to broader economic cooperation between the Islamic Republic and the organization's member states.

    Iranian Foreign Minister Mohammad Javad Zarif signed the Instrument of Accession to the Treaty of Amity and Cooperation (TAC) in Southeast Asia at the 51st annual gathering of ASEAN's foreign ministers.

    The treaty comes only two months after US President Donald Trump pulled his country out of an international nuclear agreement with Iran and announced that he would reimpose economic sanctions that were largely lifted under that deal.

    However, experts believe that Asian countries are likely to brush off US sanctions and maintain business ties with Iran despite Washington's pressure to harm all trade ties with the Islamic Republic.

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