Iran to hold talks with EAEU to implement FTA soon

TEHRAN, Mar. 05 (MNA) – Iranian Deputy Foreign Minister on Economic Diplomacy reported of increased trade with Eurasian Economic Union (EAEU) despite pandemic, adding talks with the EAEU for the implementation of the free agreementy will begin soon.

Iranian Deputy Foreign Minister on Economic Diplomacy Seyed Rasoul Mohajer said that "for example, in the past year, Iran's trade volume with Russia was standing at $ 350 million, about 90% of which was agricultural trade."

Noting that Iran shares many trade advantages with Eurasian countries in many areas, Mohajer added "The growth of trade between Iran and the Eurasian Union countries is due to the preferential tariff agreement that was implemented from November 2019 to November 2020."

"Although economic growth in many countries has been stagnant over the past year due to the coronavirus pandemic, our trade relations with Eurasian countries have grown," the Iranian Deputy Foreign Minister on Economic Diplomacy.

He announced the agreement of the leaders of the EAEU member states for a free trade agreement with the Islamic Republic of Iran and added that "Our negotiations with the member states of this union for the implementation of the free trade agreement will begin soon to discuss tariffs on goods."

Mohajer expressed hope that with the implementation of this free trade agreement,  the economic cooperation between Iran and EAEU member states will increase.

KI/5162059

News Code 170695

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