Iran, EAEU to Enjoy Tariff-Free Trade for 850 Items
News ID: 70394
Date: 13 September 2019 - 22:07
TEHRAN (Dispatches) - Iranian Energy Minister Reza Ardakanian said that his country’s membership in the Eurasian Economic Union (EAEU) has brought in many advantage for Tehran, including tariff exemptions on 850 items of goods.
Speaking on the sidelines of his visit to Yazd province, Ardakanian said, "In this great and lucrative economic market, 850 items of goods will be subject to tariff exemptions between the Islamic Republic of Iran and the EAEU member states.”
With the coordination made in this regard, this agreement will be enforced on Oct. 23, he said, adding, "With Iran’s accession to EAEU, suitable ways will be provided for the country in the field of exports and other economic activities in line with securing interests of the country.”
Elsewhere in his remarks, Ardakanian pointed to the high potentials and capacities in Yazd province, saying, "Yazd has high capacities for exports which can be used for promoting employment rate.”
Iran’s free trade with the EAEU, which was put into effect at the approval of Iranian Parliament, is considered as an important step in Iran’s foreign trade and expansion of trade exchanges with northern neighbors, the energy minister added.
He went on to say that Iran’s exported goods to Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan would be enjoying zero preferential trade tariff rate within the framework of Iran’s free trade with the EAEU.
It is for the first time that Iran enters into a regional economic agreement actively since the Islamic Revolution in 1979.
Ardakanian put the total trade volume of EAEU member states at about $753 billion, adding, "using this high potential and capacity can create a giant development in our economic ties with this union