FTA between Iran-EAEU to be inked within next three months

TEHRAN, Jul. 20 (MNA) – An official with the Trade Promotion Organization of Iran (TPOI) said that Free Trade Agreement (FTA) between Iran and Eurasian Economic Union will be inked within next three months.

The Advisor to the Trade Promotion Organization of Iran (TPOI) for International and Trade Agreements Affairs Mir-Hadi Seyyedi made the remarks on Wednesday at the venue of International Trade Tutorial Workshop between Iran and Russia and stated that the Free Trade Agreement would be signed between Iran and EAEU member states within the next three months which is considered as an important infrastructure in trade and economic exchanges.

Under the agreement, 80 percent of customs tariffs between Iran and EAEU member states will become zero, he underlined.

Signing and sealing this agreement is of paramount importance, Seyyedi said and called on Iranian traders and businesspersons to take advantage of the opportunities created for increasing their trade with five EAEU member states.

Stating that 50% of trade and economic activities in the world is currently carried out based on agreements with negligible tariff rates, he said that Iran accounts for five percent share in this sector which is negligible, so that signing FTA with EAEU member states can enhance its share considerably.

The Eurasian market of 180 million people provides a huge capacity for Iran, so that the country must take advantage of the opportunity created in this respect, Seyyedi added.

MA/IRN84827710

News Code 189284

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