Iran, Eurasian union to start free trading in near future

TEHRAN, Oct. 16 (MNA) – The head of the Trade Promotion Organization of Iran (TPOI) says that free trade with the Eurasian Economic Union will probably be implemented from the next Iranian year 1402 (Starting from March 21st, 2023).

Speaking in an interview with Mehr News Agency, Alireza Peyman-Pak stated that between 2015 and 2021, trade turnover between the Eurasian Economic Union and Iran increased from $2.3 billion to $5 billion.

Stressing the importance of the presence of Iranian activists in unions and regional links, Peyman-Pak said that 9 meetings were held during the past year regarding Eurasia.

"According to what has been announced, after the governments have reviewed and approved the details of the negotiations, the final approval of free trade with Eurasia will be determined by the end of the month of Azar ( 21st of December), and if this procedure continues, free trade with Eurasia will start next year," he added.

Saying that preferential trade increased the exports to this union by 55%, Peymakn-Pak emphasized that implementing free trade with Eurasia provides a 700 billion dollar market for Iran's industry and production, through which trade can be expanded favorably.

MNA/5607454

News Code 192504

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