Eurasia; a gateway to Iran’s economy
By Ebrahim Beheshti
Staff writer
Iran’s First Vice President Mohammad Reza Aref traveled to Armenia to attend the Eurasian Economic Union (EEU) summit. The visit can be seen from two angles: bolstering cooperation with the EEU and strengthening bilateral ties with Armenia. The EEU, established in 2014 by Russia, Belarus, Armenia, Kazakhstan, and Kyrgyzstan, is a regional union aimed at coordinating the use of existing capacities in the region. Although the Islamic Republic of Iran is not an official member of the EEU, it signed a free trade agreement with the union two years ago. The diverse economic capacities of EEU member states offer a new window of opportunity for Iran, particularly as it grapples with economic constraints imposed by US sanctions. A significant portion of Iran’s non-oil exports last year was destined for EEU member states.
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