Parl. to mull over agreement to set up FTZ between Iran, EAEU

TEHRAN, Jul. 26 (MNA) – Lawmakers at the Parliament agreed to discuss the bill of protocol of converting interim agreement for the establishment of Free Trade Zone between Iran and Eurasian Economic Union (EAEU).

In an open session of the Parliament on Tuesday in the course of investigating a single-starred urgency on interim agreement for establishment of a Free Trade Zone between Iran and Eurasian Economic Union (EAEU) and member states, which had been put forward by the government, the legislators agreed to investigate the temporary agreement for setting up Free Trade Zone between Iran and EAEU with 185 votes in favor, four against and eight abstentions out of total 242 votes.

The Eurasian Economic Union was founded in 2015 with the membership of Belarus, Kazakhstan, Russia, Armenia and Kyrgyzstan, and currently 40 countries have announced their membership to cooperate with the Union, Adyani representative of the government said.

He went on to say that Iran held initial negotiations and following a temporary agreement was set up, he added.

In the wake of inclination of the aforementioned countries, a temporary agreement was launched in Nov. 2019 which brought about positive results for the country, he said, adding, “As a member of the Union, Iran’s import and export of products registered a 51 and 66 percent growth in weight and value respectively last year (ended March 20, 2022).”

Adyani further noted that the country recorded an acceptable growth rate in the field of trade in the first two months of the current year (from March 21 to May 22).

With the studies made in this regard, the agreement must be inked between Iran and EAEU by the end of the current year (to end on March 20, 2023), he underlined.


News Code 189497


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