TEHRAN, Iran, Jan.7
Trend:
Iranian Central Bank Governor Abdolnasser Hemmati said that Iran will get its share of exports after joining the Eurasian Economic Union (EAEU).
“Trade with the member states of this union will not be out of control,” Hemmati said, referring to the impact of joining Eurasian Economic Union (EAEU) treaty for the domestic production.
“There are rules and clauses in the trade agreement signed with the union that prevent import and export disruptions,” he said.
"In this case, we will put out own mechanisms to work, to make sure domestic production isn't affected," Hemmati said.
Back in June, the Iranian parliament ratified an agreement that allows the administration to join a free trade zone with the Eurasian Economic Union (EAEU) countries.
The agreement, signed in Kazakhstan in May 2018, sets the main rules of trade between the EAEU, Iran and those of the World Trade Organization (WTO), of which Iran is not a member.
The free trade zone is planned to be in effect for four years, under which the EAEU will grant Iran tariff concessions on more than 500 items.