Aug 29, 2019, 6:13 PM
Journalist ID: 2383
News Code: 83457393
7 Persons
EAEU calls for implementation of free trade agreement with Iran

Tehran, Aug 29, IRNA – According to the Eurasian Economic Commission (EEC)'s statement, free trade agreement between the union and the Islamic Republic of Iran will be implemented from October 27, 2019.

According to the report released by Belarusian News Agency (BelTA) on Thursday, Chairman of the EEC Tigran Sargsyan in meeting with Iran's Ambassador to Russian Mehdi Sanaei discussed necessary stages to establish free trade zone between the Eurasian Economic Union (EAEU) and Iran.

The EEC announced that the agreement will be executed from October 27, 2019.   

Tigran Sargsyan said approval of the agreement is a historical event and creation of a free trade with Iran is a priority for the EEC.

We received permission to enter negotiation with our Iranian partners, so it would be a big day, because we have recently received the official approval and the agreement will be implemented soon.

Sanaei said the agreement is so important for Iran as well, because I believe it is beneficial for Iranian economic and the EAEU.

He added that the negotiation process was so challenging, but finally it ended and the agreement was signed and approved.

President Rouhani ordered Ministry of Industry, Mine and Trade on June to put the agreement into practice. 

The agreement was approved by the Majlis (parliament) on June, 2019.

EAEU began its work since January 1, 2015 and its members are Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan.

The EAEU and Iran signed temporary agreement on setting up free trade zone on May 17, 2018.  

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