Why it matters:
Western sanctions on Iran and other countries, like Russia, have hindered Iran's ability to trade effectively due to interaction barriers. However, Iran's free trade agreement with the EEU offers numerous export opportunities, including tariff reductions and access to updated information.
What he's saying:
Mirhadi Seyyedi at Tehran University, Faculty of World Studies: "The Eurasian Union has created the possibility of reducing tariffs to zero and facilitating interactions. Agreeing with EEU, Iran has simultaneously made five trade agreements with the five member states."
Key points:
- Over 50% of global exports benefit from natural agreements; Iran's share is around 5%.
- Since 2018, all goods, except for 700 items, have benefited from zero tariffs in the EEU preferential agreement.
- Iran can supply more than $12 billion in imports to Russia.
Go deeper:
Iran's Trade With Eurasian Economic Union Grows by 12.8% in 2024
Iran and Kazakhstan to Expand Economic Cooperation
