Iran's Exports to EEC Member States Increase

The Chairman of the EEC Board informed of Iran's growth of exports to the member countries of this union since the implementation of the interim agreement on the establishment of a free trade zone. The Eurasian Economic Commission's (ECC) Mikhail Myasnikovich made the remarks in his meeting with Iran's envoy to Moscow Kazem Jalali. The meeting was reportedly attended by the Trade Minister of the ECC Andrey Slepnev. Noting that the necessary decisions have been taken by the ECC member states to start free trade negotiations, Myasnikovich said: "Iran's exports to the union have been increasing since the implementation of the agreement."

He also referred to the prospects of cooperation in various fields between Iran and the union and called for an increase in the activities of the economic role players. Jalali, for his turn, referred to the readiness of the Trade Promotion Organization of Iran (TPO) to start free trade negotiations between the Islamic Republic of Iran and the union and stressed the need to hold working group meetings within the framework of the mentioned interim Free Trade Agreement. Jalali also outlined banking and infrastructure issues in cooperation between Iran and the Eurasian Economic Union.

In May 2018, after two years of negotiations, Iran and the Eurasian Economic Union signed an interim agreement to establish a free trade zone, which was implemented on October 27, 2019. The agreement is set to become a free trade agreement after three years and negotiations between the two sides. - Mehr