Iran, EAEU to launch FTA in two months

A member of Iran-Russia Joint Chamber of Commerce predicted that more than 88% of commodities will be exchanged between Iran and the Eurasian Economic Union’s member states with zero tariffs within the next two months.
The free trade agreements between countries will facilitate the exporters’ access to the target market, member of the board of directors of Iran-Russia Joint Chamber of Commerce, Kambiz Mirkarimi said.
He noted that a Free Trade Agreement between Iran and the Eurasian Economic Union’s members, including Russia, Belarus, Kazakhstan, Kyrgyzstan and Armenia, was one of the most important deals signed by the country in recent years.
Iran’s exports to the EAEU members stood at about $260 million until 2018, but after the implementation of the FTA in 2019, the country’s exports to these countries immediately increased to above $400 million, he said.
It is expected that the FTA will be ratified by the parliaments of all members states of the union within the next two months, he said.
This development will increase the competitiveness of Iranian products against the goods made in China, India and other rivals, Mirkarimi stated.
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