BAKU, Azerbaijan, February 25. The agreement with the Eurasian Economic Union (EAEU) has raised economic cooperation with Iran to a new quality level, the EAEU Minister of Trade Andrey Slepnev said at the Third International Eurasian Exhibition in Tehran, Trend reports.
According to him, creating an effective agreement between state and trade circles is crucial for realizing new opportunities.
Slepnev mentioned that, in cooperation with the Iranian side, the necessary materials would be provided to ensure that the trade circles of EAEU member countries and Iran can maximize the opportunities arising from the agreement.
He held a meeting with Iran's Minister of Industry, Minerals and Trade Mohammad Atabek to discuss the necessary steps to implement the agreement.
The parties agreed to develop a roadmap to enhance cooperation in areas of mutual interest.
During the meeting, the EAEU’s trade minister pointed out that the roadmap would create promising opportunities in areas such as simplifying processes at border customs, increasing industrial cooperation, removing technical trade barriers, and conducting e-commerce.
The roadmap is expected to be organized before the first meeting of the joint committee related to the implementation of a full free trade agreement between Iran and the EAEU.
The Iranian parliament ratified the free trade agreement with the Eurasian Economic Union on December 22, 2024.
A free trade agreement between Iran and the Eurasian Economic Union was signed in St. Petersburg on December 25, 2023. It is expected that after the recently signed agreement comes into force, trade turnover will reach $18-20 billion within five-seven years.
Iran's exports to member countries of the EAEU grew by 22 percent in value and 27 percent in weight during ten months of the current Iranian year (from March 20, 2024, through January 19, 2025) compared to the same period last year (from March 21, 2023, through January 20, 2024).
Stay up-to-date with more news on Trend News Agency's WhatsApp channel