Feb 24, 2021, 6:21 PM
Journalist ID: 1844
News Code: 84242492
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Tariffs on Eurasia trades to go zero: Iranian Official

Tehran, Feb 24, IRNA – Director-General of Trade Promotion Organization of Iran for Europe and America Behrouz Olfat said on Wednesday that tariffs on different goods being traded between Iran and the Eurasian Economic Union (EAEU) would go to zero one the preferential trade agreement is implemented.

Referring to the positive progress in the preferential trade agreement between Iran and the EAEU, Olfat said that talks on free trade began in February to remove tariffs on different goods, except 20 products the two sides are not willing to include, in a process that would take years.

Highlighting the $30b trade capacity between Iran and Eurasia, he said that countries in this region are not familiar with their markets and that serves as a barrier to trading ties; therefore, he added, a specialized exhibition is going to be held in May in Iran.

Olfat stressed that those goods, including in free trade agreement, would have zero-tariffs and other discounted goods would see near-zero tariffs.

Noting the sanction on import of 2,250 goods imposed by Turkey on Armenia, the official said described the situation as the best opportunity to expand Iran’s trade ties, however, he admitted that there weren’t enough capacity to fill the gap.

He added that Iran has increased its trade with Armenia by 50 million dollars and planning has done for further increase.

The first specialized Eurasia exhibition will be held on May 18-21, 2021 in Iran.

The EAEU is an economic union, consisting of Russia, Kazakhstan, Belarus, Kyrgyzstan and Armenia as its main members. Iran is planned to join to the union permanently in the coming months.

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