EAEU and Iran steps create free trade zone

The fifth round of negotiations on concluding a free trade agreement between the EAEU and Iran took place in Moscow from September 26 to 28, RitmEurasia reported.

According to the source, the new agreement will replace the current temporary preferential trade agreement between the parties.

“The work on the regulatory part of the document is almost completed, the remaining point issues can be resolved in the near future. As for the key issue – the list of goods in mutual trade in which duties will not be applied – the positions of the parties have been crystallized, decisions are also being looked through,” Anton Tsetsinovsky, Head of the Special Issues of Trade Regulation of the EEC Trade Policy Department, noted following the results of the talks.

He also added that the governments of both the EAEU countries and Iran pay great attention to the success of these negotiations. This allows us to count on the fact that the decisions necessary to complete them will soon be adopted by both sides.

“According to our estimates, taking into account the past round, the substantive completion of the negotiations has come much closer. Nevertheless, all participants should work out each other’s request positions as productively as possible. We agreed to meet next time in November,” the EEC representative said in conclusion.

The Eurasian Economic Union (EAEU) includes five states – Russia, Belarus, Kazakhstan, Kyrgyzstan and Armenia.

Sept. 30, 2022