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Eurasia System launched at IRICA to facilitate int’l trade
The Eurasian Economic Union (EAEU) system is ready for operation at the Islamic Republic of Iran Customs Administration (IRICA), aimed at paving suitable ways for stakeholders to use exemptions predicted in the EAEU agreement, state media reported on Wednesday.
According to Mehr News Agency, the necessary infrastructures have been prepared and ready for implementation for being used by the economic actors in line with the policies of IRICA in making customs processes “smart and electronic” with the aim of enhancing the transparency, speed, and predictability of trade procedures, especially within the framework of the implementation of Free Trade Agreement (FTA) inked between Iran and the Eurasian Economic Union.
The system, known as the “Eurasia System,” has been designed and prepared for operation with the aim of facilitating the use of economic actors from discounts and exemptions predicted within the framework of the Eurasian Economic Union Agreement, as well as the systematic management of processes related to certificates of origin and goods covered by this agreement.
IRICA’s authorities said the move is intended to speed up trade procedures by replacing paper-based processes with electronic documentation and verification systems, while increasing transparency and improving oversight of imports.
Iran signed a free trade agreement with the Eurasian Economic Union in late 2023 as Tehran seeks to deepen economic ties with regional partners amid Western sanctions and efforts to diversify its trade relations.