Iran Press/Europe: Iran's ambassador to Russia Mahdi Sanai, met with the chairman of the Board of the Eurasian Economic Commission Tigran Sargsyan on Wednesday to submit the document on the Free Trade Zone Agreement between the Islamic Republic of Iran and the union, which was approved by the parliament in June and signified by the president, reported Iran Press .
At the meeting, the two sides underscored the implementation of the agreement and discussed ways to develop Iran's relations with the five members of the Union.
Sixty days after the exchange of documents, the mutual tariff reduction process will begin gradually.
The Eurasian Economic Union is an international organization of regional economic integration with international legal personality and established by the Treaty on the Eurasian Economic Union .
In the EAEU, freedom of movement of goods, services, capital and labor is ensured , as well as a coordinated or uniform policy in economic sectors.
Member States of the Eurasian Economic Union are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation.
The EAEU was created in order to comprehensively modernize, cooperate and increase the competitiveness of national economies and create conditions for stable development in the interests of improving the living standards of the population of the member states.
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