Iran, EAEU to Finalize FTA Next Month

A free trade agreement (FTA) between Iran and the Eurasian Economic Union (EAEU) will come into force next month, an Iranian official said.

News ID: ۸۰۹۸۷۸

24 November 2023

The head of the Trade Promotion Organization of Iran (TPOI) said the free trade agreement between Iran and the EAEU will take effect in Russia next month at a meeting of the heads of the EAEU member states.

Addressing the 27th National Conference on Promotion of Iran’s Non-Oil Exports, Mahdi Zeighami said the more suitable ways are provided for the promotion of non-oil exports, the more the volume of Iranian exports will rise.

Highlighting the Iranian administration’s policy of closer trade and economic relations with the neighbors, he added, “It is expected that at least 10 cases of preferential and free trade agreements will be inked with the countries that are interested in boosting trade and economic ties with Iran.”

Zeyghami then hailed the results of the agreements with BRICS on the development of Iranian exports, expressing hope that Iran’s exports to the BRICS members would grow with the cooperation from the public and private sectors.

The Eurasian Economic Union is an international organization for regional economic integration. It has international legal personality and is established by the Treaty on the Eurasian Economic Union.

The member states of the Eurasian Economic Union are Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. / Tasnim