Iran, EAEU hold new round of trade talks on FTA in Moscow

TEHRAN, Apr. 28 (MNA) – A new round of talks was held between Iran and Eurasian Economic Union (EAEU) to finalize the text of Free Trade Agreement (FTA) and determine list of commodity which is going to be exchanged between the two sides.

The talks between Iran and EAEU was held in Russian capital of Moscow on Tuesday and Wednesday April 26-27 in the presence of representatives of Iran and five EAEU member states.

Negotiations have focused mainly on finalizing the text of the FTA, Advisor to the Head of Trade Promotion Organization of Iran (TPOI) for International and Trade Agreement Affairs stated.  

In formulation of FTA, it was stipulated that tariff on about 80% of goods on both sides will gradually reach zero level and the tariff on remaining 20% of goods will remain unchanged, Seyyedi emphasized.

Negotiations between the two sides will continue in coming months, so that FTA is sealed and signed before termination of the current year.

TPOI started negotiations with the EAEU as of second half of 2010 to negotiate turning Preferential Trade Agreement (PTA) into a Free Trade Agreement.

Four rounds of talks have so far been held in-presence between the two sides and more than 15 rounds of talks have been held through video conference.

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