Eurasian Economic Union to Expand Trade Ties with Iran

The Eurasian Economic Union will expand transport and trade relations with Iran. Iran transport officials are hosting the head of the Eurasian Economic Union Trade Council, Danil Ibrayev, on Wednesday to discuss prospects of transport and trade cooperation. Ibrayev who is also President of the Kyrgyz Union of Industrialists and Entrepreneurs (KUIE), expressed hope for the development of transport corridors and ports and logistics infrastructures in Iran during his visit. The two sides expressed willingness over launching rail transit from Bandar Abbas to Osh which can transit Kyrgyzstan, Russia, Belarus, and China freights to Iran and also the possibility of forming a cross-border port in Bandar Abbas.

Although Shahid Rajaee Port is a Special Economic Zone which can attract investments; however, the Eurasian Economic Union has a proposal for a cross-border port in Bandar Abbas to facilitate and accelerate freight transit. Iran is to respond to the proposal after examining the legal and regulatory requirements. Stating that the rail route through Kyrgyzstan, Kazakhstan, Turkmenistan, and Iran is open to the central Asian countries, Afandizadeh, Iran's deputy transport minister welcomed rail freight transit from China and Kyrgyzstan towards Iran which gives them access to both Europe and the Indian Ocean.

The Eurasian Economic Union consists of five member states including Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia and Iran's geographical location is very important in providing the Central Asian countries access to the high seas. Iran, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan signed a joint statement for enhanced transit during the first ministerial summit on transit cooperation among regional countries which was initiated for the first time by Iran on October 9. - Mehr