https://sputniknews.in/20250512/implementation-of-iraneurasian-economic-union-treaty-to-boost-trade-ties-fm-9107939.html
Implementation of Iran–Eurasian Economic Union Treaty to Boost Trade Ties: FM
Implementation of Iran–Eurasian Economic Union Treaty to Boost Trade Ties: FM
Sputnik India
TEHRAN (Sputnik) - The implementation of a free trade zone agreement between Iran and the Eurasian Economic Union (EAEU) will ramp up economic and trade... 12.05.2025, Sputnik India
2025-05-12T12:45+0530
2025-05-12T12:45+0530
2025-05-12T12:45+0530
political affairs
iran
russia
tehran
eurasion economic union (eaeu)
moscow
armenia
kazakhstan
kyrgyzstan
belarus
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"The implementation of an agreement between Iran and the EAEU will lead to substantial growth in trade and economic exchange between Iran and five countries [of the EAEU], that is why we are determined to use any opportunity to boost the effectiveness of the potential that each of these countries has," Baqaei said ahead of the day when the agreement comes into effect and the Eurasian Economic Union's Day, celebrated on May 29.The EAEU has special significance for Iran as it creates the basis for the expansion of economic and trade ties between Tehran and the union, the spokesman said.The agreement on the establishment of a free trade zone between Iran and the EAEU was signed on December 25, 2023. In late February of this year, the Iranian parliament ratified the agreement. In March, Russian Deputy Prime Minister Alexei Overchuk said that the agreement would go into effect on May 15. The aim of the agreement is to liberalize and ease trade between the EAEU and Iran through the reduction or elimination of tariff and non-tariff barriers, as well as by maintaining economic and trade interaction. According to Overchuk's estimates, the agreement will let Russian businesses spare up to $300 million annually on tariffs, and will also boost Russia-Iran mutual trade.
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iran, russia, tehran, eurasion economic union (eaeu), moscow, armenia, kazakhstan, kyrgyzstan, belarus
iran, russia, tehran, eurasion economic union (eaeu), moscow, armenia, kazakhstan, kyrgyzstan, belarus
Implementation of Iran–Eurasian Economic Union Treaty to Boost Trade Ties: FM
TEHRAN (Sputnik) - The implementation of a free trade zone agreement between Iran and the Eurasian Economic Union (EAEU) will ramp up economic and trade interaction between Iran and the countries of the union, Iranian Foreign Ministry spokesman Esmaeil Baqaei told Sputnik.
"The implementation of an agreement between Iran and the EAEU will lead to substantial growth in trade and economic exchange between Iran and five countries [of the EAEU], that is why we are determined to use any opportunity to boost the effectiveness of the potential that each of these countries has," Baqaei said ahead of the day when the agreement comes into effect and the Eurasian Economic Union's Day, celebrated on May 29.
The EAEU has special significance for Iran as it creates the basis for the expansion of economic and trade ties between Tehran and the union, the spokesman said.
The agreement on the establishment of a free trade zone between Iran and the EAEU was signed on December 25, 2023. In late February of this year, the Iranian parliament ratified the agreement.
In March, Russian Deputy Prime Minister Alexei Overchuk said that the agreement would go into effect on May 15. The aim of the agreement is to liberalize and ease trade between the EAEU and Iran through the reduction or elimination of tariff and non-tariff barriers, as well as by maintaining economic and trade interaction. According to Overchuk's estimates, the agreement will let Russian businesses spare up to $300 million annually on tariffs, and will also boost Russia-Iran mutual trade.
