Iran (IP) - Chairman of the Board of the Eurasian Economic Commission, in a meeting with the Iranian Ambassador to Russia, announced the increase of Iran's exports to Eurasian Economic Union (EAEU) member states.

Iran Press/Europe: Iran's ambassador to Russia, Kazem Jalali, met with the Chairman of the Eurasian Economic Commission, Mikhail Vladimirovich Myasnikovich, on Monday.

During the meeting, Myasnikovich noted that the Eurasian Economic Union member states had taken the necessary decisions to start free trade negotiations, saying that Iran's exports to the union have been increasing since the implementation of the Interim Free Trade Agreement.

Referring to the readiness of Iran's Development and Trade Organization to start free trade negotiations between the Islamic Republic of Iran and the Eurasian Economic Union, the Ambassador stressed the need for a working group meeting on "Hygiene and Technical Measures for Trade" within the framework of the interim agreement on the establishment of a free trade zone.

Iran and Eurasian Economic Union reached a free trade agreement in October 2018, based on which about 862 commodity items were subjected to preferential tariffs.

The interim agreement to set up a free trade area between Iran and the EAEU was signed on May 17, 2018, and officially came into force on October 27, 2019.

The free trade agreement between Iran and EAEU has laid the ground for expanding trade between the two sides.

The agreement with the bloc has increased Iran’s exports to the EAEU member states significantly, which is a turning point for the Islamic Republic's plans for boosting non-oil exports during the U.S. sanctions.

The Treaty on the Eurasian Economic Union was signed on 29 May 2014 by Belarus, Kazakhstan, and Russia and came into force on 1 January 2015. Treaties aiming for Armenia's and Kyrgyzstan's accession to the Eurasian Economic Union were signed on 9 October and 23 December 2014. Armenia's accession treaty came into force on 2 January 2015. Kyrgyzstan's accession treaty came into effect on 6 August 2015. 


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