Iran Press/ Iran News: The Eurasian Economic Union (EAEU) is an economic union whose members are most of the countries in the north of the Eurasian region, in Eastern Europe. The treaty establishing this union was signed by Belarus, Kazakhstan, and Russia on May 29, 2014, and it came into effect on January 1, 2015.
Alireza Peyman-Pak, Head of the Iran Trade Promotion Organization, at the signing ceremony of the free trade agreement between Iran and the Eurasian Economic Union, stated that the Islamic Republic of Iran is serious about cooperation, saying: "In the past few months, relations between Iran and Russia have become closer with many business delegations having traveled to the two countries."
Peyman-Pak stressed that the signing of the free trade agreement between Iran and the EAEU can facilitate and accelerate the development of economic and commercial relations, adding: "We are fully prepared to form a joint working group along with the agreement. Good financial activities have been done and logistic measures are on the agenda."
Andrey Slepnev, the Eurasian Economic Union's Member of the Board (Minister) for Trade, also said at the ceremony for signing the agreement: "Contrary to the imposition of foreign sanctions on Iran and Russia, with the determination of the two countries, the level of cooperation has increased significantly."
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