Iran Press/Iran news: On Mid July, Russian President Vladimir Putin approved the establishment of the free trade zone between the Eurasian Economic Union (EAEU) and Iran.
Provisional agreement for free trade zone between EAEU and Iran signed on May 2018.
The Eurasian Economic Commission (EEC) announced Tuesday that the next round of permanent Free Trade Agreement (FTA) talks between EAEU’s member states and Iran would be held at the end of September.
During a meeting held between the member of the Board of Directors of EEC Andrey Slepnev and Head of Trade Promotion Organization of Iran (TPOI) Alireza Payman-Pak, the two sides set to broaden cooperation in trade and economy.
The Iranian official stated that the bilateral trade and transit of goods via Iran en route North-South Corridor had risen almost 50 percent in the current Iranian year (started March 21, 2022).
Payman-Pak noted that the two sides had made significant progress in national currencies, which is of paramount significance, adding that exchanging the Rials-Ruble in bilateral transactions is considered the latest key and positive steps taken between Iran and EAEU member states.
According to the statistics, the trade value between Iran and EAEU member states exceeded $5 billion, as much as 73 percent in 2020.
205
Read More:
Putin approves law on ratification of Iran-EAEU free trade zone protocol
4th round of free trade talks between Iran, EAEU held
Iran to attend EAEU in late May 2022
