TEHRAN (Dispatches) - Iran has planned to host an economic gathering of Eurasian countries this month in a bid to counter illegal sanctions imposed by the U.S.
The meeting is to be held in the northern port city of Bandar Anzali on November 17 by the Eurasian Economic Union (EAEU).
On 28 October 2019, Iran formally became part of an initial Free Trade Agreement (FTA) with the EAEU. It enables Iranian producers and exporters to export their goods under lesser tariffs with a higher profit margin for them.
The EAEU is intent to focus on the geopolitical role played by free economic zones in the progress of ties among Eurasian countries.
Using the economic capacities and transit corridors provided by the Caspian Sea littoral states, Iran has considered two strategic channels of international interaction and cooperation.
The Eastward channel is passing through the littoral states connecting Iran to China via Central Asia, while the Westward one links Iran to Russia, Kazakhstan, Belarus, Kyrgyzstan, and Armenia.
According to Iranian officials, hosting the EAEU event will prove that the U.S.’ inhumane sanctions against Tehran are doomed to failure.
According to a recent announcement of the EAEU, amid the grave situation caused by coronavirus epidemic, Iranian trade with the union has been growing.
The figure shows a $2 billion surge in Iran’s trade with the EAEU, indicating a 2% rise over the past eight months of 2020 compared to the same period in 2019.
The EAEU Commission said that a part of the increase in trade has been due to Iran’s import of farming products by $230 million dollars.
It added that raw materials of farming products and food are on top of the exports of EAEU to Iran with $939 million.
In turn, Iran’s export to the EAEU members was $575 million of fruits and dried fruits.