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EAEU-Iran free trade zone “likely to be established in 2023”

panarmenian.net05/13th/2023, 8:42

EAEU-Iran free trade zone “likely to be established in 2023”

May 13, 2023 - 12:39 AMT

PanARMENIAN.Net - Member of the Board (Minister) for Trade of the Eurasian Economic Commission (EEC) Andrei Slepnev believes it is highly likely that a free trade zone between the Eurasian Economic Union (EAEU) and Iran will be established by the end of 2023, BelTA reports.

“We have completed substantive discussions of all the provisions of the agreement with Iran. We are now fine-tuning the document, we hope that we will finish this work within this month. We plan to inform the prime ministers about the results in Sochi at the beginning of next month. After that, there will be some formal procedures. I think that there is a very high probability that we will sign an agreement with Iran this year,” Slepnev told a briefing on Friday, May 12.

Speaking about the effects of the creation of a free trade zone with Iran, the EEC minister noted: “This is a very serious partner, a large country. We can say that we are Iran's first big partner when it comes to free trade, as this country has fairly high barriers to enter its market. We appreciate that Iranian partners offered us unprecedented terms to enter ...

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