EAEU and Iranian entrepreneurs take steps to intensify trade ties

The Eurasian Economic Union (EAEU) has announced that the next round of talks on expanding cooperation will be held in Moscow to boost trade exchanges with Iran, IRNA reported.

The EAEU and the representative of Iran intend to hold the next round of negotiations on a memorandum of understanding on free trade in Moscow in September 2022.

Member of the Board of the Eurasian Economic Commission (EEC) Andrey Slepnev and Deputy Minister of Industry, Mining and Trade of Iran Alireza Peymanpak reached an agreement to hold the next meeting at the specified place and time, the report said.

Peimanpak said at the meeting that the volume of mutual trade and transit of goods in the International North-South Transit Corridor through Iran has increased by almost 50% this year.

In turn, Slepnev stressed that there is significant progress in trade between the two sides based on national currencies, which is of great importance in the current situation.

According to the representative of the EAEU, the latest positive development was the start of trade between Russia and Iran using the ruble and rial.

The Eurasian Economic Commission is the executive body of the EAEU.

August 31, 2022