Iran and Korea have signed an agreement to partially ease regulations governing Korean cosmetics exports to Iran starting from later this year, making way for the expanded sales of locally made cosmetics in the Iranian market

The Korean Ministry of Food and Drug Safety on Monday said its Iranian counterpart has agreed to eliminate on-site inspections — which had been mandatory until now — for certified Korean cosmetics destined for sale in Iran.

As long as they are certified under the Good Manufacturing Practice, or GMP system, Korean cosmetics companies will no longer be subject to such inspections when seeking to export their products to Iran.

Moreover, Iran has eliminated the need for Korean cosmetics companies to present documentation that proves their products have already been approved in the U.S. or Europe.

Under the agreement, Korean cosmetics-makers will only have to prove that they have been approved for sale in Korea. In effect, this means Iran recognizes Korean cosmetics standards as being on par with those made in the U.S. and Europe, the ministry said.

The two countries also plan to set up a space dedicated to promoting and selling Korean cosmetics in Iran by this year. However, the exact timing and details have yet to be determined, due to unsettled issues such as funding.

By Sohn Ji-young (jys@heraldcorp.com)