Tehran, IRNA – President Masoud Pezeshkian has officially enacted legislation approving the Free Trade Agreement (FTA) between the Islamic Republic of Iran and the Eurasian Economic Union (EAEU), marking a significant step in Tehran’s efforts to strengthen economic ties with Eurasian markets.
The agreement, ratified by Parliament on February 4, 2025, and subsequently endorsed by the Guardian Council on March 2, was formally communicated to the Ministry of Industry, Mine and Trade, the Ministry of Economic Affairs and Finance, and the Ministry of Foreign Affairs on Saturday.
The FTA aims to eliminate tariffs on over 80% of goods traded between Iran and EAEU member states—Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan—while planning gradual tariff reductions for sensitive sectors.
The agreement will grant Iran access to an integrated single market of approximately 184 million people, aligning with the country’s policy of enhancing trade relations with regional partners amid ongoing Western sanctions.
4353
Your Comment