An important direction for development of cooperation will be marked by free trade agreement between EEU and Iran

As Armenian Prime Minister Nikol Pashinyan said on Thursday at an enlarged meeting of the Eurasian Intergovernmental Council, a free trade agreement between the Eurasian Economic Union (EEU) and Iran will enter into force and give a strong impulse for development of strategic relations.
According to him, a package of arrangements providing the EEU member states’ exports with preferential access to Iran will be formed due to the work carried out to conclude a full-fledged agreement. He called such conditions of access to the Iranian market exclusive for Armenian exporters.
According to the opinion of Pashinyan, this year this agreement will be signed with the support of the EEU member states. The same attitude is demonstrated by the Iranian side in its turn.
An agreement to establish a free trade zone was signed by the Islamic Republic of Iran and the Eurasian Economic Union (EEU) following the meeting of the delegations of the two sides on January 19h, 2022.
According to Alireza Peyman-Pak, Iran’s Deputy Minister of Industry, Mine and Trade and Head of the Trade Promotion Organisation (TPO) of the Islamic Republic, zero tariffs on 90% of goods were approved by Iran and EEU as part of the Free Trade Zone agreement. The entering into force of the Free Trade Zone agreement is scheduled for the end of September 2023.

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