EAEU countries signed a full-scale free trade agreement with Iran

The signing took place within the framework of the meeting of the Supreme Eurasian Economic Council in St. Petersburg

SAINT PETERSBURG, December 25. /TASS/. The countries of the Eurasian Economic Union (EAEU) signed a full-scale free trade agreement with Iran, which should replace the temporary agreement in force since 2019, a TASS correspondent reports from the ceremony.

The signing took place within the framework of a meeting of the Supreme Eurasian Economic Council in St. Petersburg. At the ceremony, the document was signed by the Chairman of the Board of the Eurasian Economic Commission (EEC) Mikhail Myasnikovich, Deputy Prime Minister of the Russian Federation Alexey Overchuk and the Minister of Industry, Mines and Trade of Iran Abbas Ali-Abadi. The agreement was also signed by representatives of Belarus, Armenia, Kazakhstan and Kyrgyzstan.

“The agreement officially comes into force from the moment it is ratified by the member states. I think that their parliaments will not delay this process and will carry it out quickly enough,” Myasnikovich told reporters after the ceremony. At the same time, according to him, it is currently necessary to carry out practical work on the formation of mechanisms for the implementation of both trade and investment provisions of the agreement.

“We made calculations: at the current level of development of relations, this will allow saving, first of all, on the payment of customs duties and payments, and here very serious figures are obtained, which will be saved by both Russian business and Iranian business. Naturally, better opportunities will be created for entering markets each other,” Overchuk noted.

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