Nov 24, 2019, 11:51 AM
Journalist ID: 1006
News Code: 83566607
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Eurasian Union market; opportunity for Aras economic boom

Tabriz, Nov 24, IRNA – The 280 million population market of Eurasian Union with $ 800 billion economic capacity, offers many economic opportunities for Iran and its business community, Managing Director of Aras Free Zone Mohsen Nariman said on Sunday.

The Eurasian Economic Union is an economic union of states located in central and northern Asia and Eastern Europe. The Treaty on the Eurasian Economic Union was signed on 29 May 2014 by the leaders of Belarus, Kazakhstan and Russia, and came into force on 1 January 2015.

Mohsen Nariman said in a press conference with Armenian media activists that the agreement on the establishment of the Free Trade Zone of The Eurasian Economic Union (EAEU) has been implemented since October 23.

He said that trade with the Eurasian Union countries could contribute up to 3% of Iran's trade with the Eurasian Union, raising to about $ 15 billion a year.

Nariman added that fruits, greenhouse products, such as cucumbers and tomatoes, nuts such as pistachios, raisins, and dates, food and fruit industries, fishery products such as shrimp, caviar and fish and poultry and eggs are among the products that Iranian traders can benefit from tariff reductions under the agreement.

In response to a reporter's question regarding the announcement of Aras plans to connect Iran-Armenia railway, the Managing Director of Aras Free Zone said: We currently have two study plans to revive Aras Free Zone transit capacity in the rail sector, It will connect the city of Jolfa from the west to the Soraya spring on the Turkish border and from the east to Norduz and Aslanduz.

Aras Free zone is situated in the neighborhood of the Nakhichevan autonomous region and Armenia, 137 km from the city of Tabriz.

The city of Jolfa as the center of this industrial-trade zone has a record of a hundred years in the field of trade and customs activities and is the joint border between Iran and Nakhichevan and is the busiest passenger border in Iran after Tehran airports.

Aras Trade-Industrial Free Zone connects Iran to the Caucasus, Russia and East Europe economic zones.

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