Iran’s trade with EAEU member states hits $5 bln: official

An official at Trade Promotion Organization of Iran (TPOI) has said that the country’s trade with the Eurasian Economic Union (EAEU) reached $5 billion.

News ID: ۲۰۰۰۴۰۴

03 December 2024

EghtesadOnline: After the implementation of Free Trade Agreement (FTA) inked between Iran and member states of the union, the total of Iran’s trade with five member states of the union reached from about $2 billion to $5 billion, Advisor to the Trade Promotion Organization of Iran (TPOI) for International Affairs Mir-Hadi Seyyedi stated.

It is hoped that the agreement could have an important effect in spurring trade between the two sides, he emphasized.

On the sidelines of the Supreme Eurasian Economic Council's meeting held on December 25 in St. Petersburg, a Free Trade Agreement was signed between Iran and Eurasian Economic Union member states.

Presently, the Free Trade Agreement (FTA) between Iran and EAEU member states is expected to be finalized and communicated by the end of January 2025.

The temporary agreement on creation of a free trade zone between the EAEU and Iran was concluded on May 17, 2018 and came into force on October 27, 2019. / Mehr