TEHRAN - Iranian Minister of Industry, Mine and Trade Seyyed Muhammad Atabak has emphasized the necessity of expanding economic cooperation between Iran and the Eurasian Economic Union (EAEU), stating that removing trade barriers and establishing direct interactions between companies and the private sector will increase the utilization of trade capacities among member states and lead to the definition of joint industrial projects.
Atabak made the remarks on Wednesday during the second meeting of the joint committee on the implementation of the Iran-EAEU Free Trade Agreement. The meeting was attended by Andrey Slepnev, the EAEU Minister in charge of Trade, and ambassadors of the member states.
“Developing economic relations with the member states of this union is a strategy based on mutual respect and securing common interests, and it must lead to the formation of sustainable and predictable cooperation,” Atabak stated.
Pointing to the history of economic cooperation in the Eurasian region, he noted: “Today, with a population of over 180 million and a significant geographical expanse, this union possesses diverse capacities in the fields of energy, transportation, industry, agriculture, and trade.”
Referring to the trend of Iran’s trade negotiations with the EAEU, Atabak added that the talks initially aimed at reaching a preferential trade agreement, but after numerous expert meetings and continuous negotiations, the ground was paved for expanding cooperation and concluding a free trade agreement.
The industry minister clarified that the agreement covers various chapters and subjects in the field of trade, providing a suitable platform to facilitate exchanges, expand access to member states’ markets, and increase the competitiveness of Iranian goods.
Highlighting reports on trade performance following the agreement’s implementation, Atabak said: “Since the implementation of this agreement, a significant increase in export volume has been observed. This trend indicates that the effective use of the agreement’s capacities and the continuous pursuit of economic operators’ issues can lead to the strengthening of trade relations between Iran and the member states.”
Stating that the value of Iran’s trade with EAEU member states exceeded $7 billion in the past year (2025), Atabak noted: “This figure represents an increase of approximately 25 percent compared to 2024. During this period, Iran’s non-oil exports were reported at around $2.149 billion, and imports from member states stood at roughly $4.928 billion.”
He announced the value of bilateral trade exchanges in the first eight months of 2026 at approximately $4.486 billion.
The purpose of these joint committee meetings is to review primary issues, remove trade barriers, and maximize cooperation opportunities. Specialized working groups are expected to provide practical solutions for developing trade exchanges by focusing on executive issues and the needs of economic operators.
The minister listed holding joint seminars in industry, agriculture, transportation, and logistics; reviewing import and customs requirements; facilitating foreign trade; exchanging lists of goods; and introducing producers with export potential as some of the measures taken in this regard.
Emphasizing the importance of the participation of small and medium-sized enterprises (SMEs) and companies based in Iran’s free and special economic zones, Atabak noted that the capacities of these enterprises and zones can play an effective role in facilitating economic exchanges and developing trade cooperation.
Announcing Iran’s readiness to expand specialized cooperation in the fields of medicine and pharmaceuticals, he considered the development of such interactions as a basis for strengthening industrial cooperation and creating joint production capacities.
Pointing to the importance of the Islamic Republic of Iran’s observer status in the EAEU, the minister said: “Our expectation is that the implementation of the cooperation roadmap will go beyond exchanging documents and holding meetings, and will yield practical and measurable results.”
He listed increasing the utilization of preferential trade capacities, reducing executive and operational barriers, expanding the diversity of exchanged goods, and forming joint industrial projects among the indicators for evaluating the progress of Iran-EAEU economic cooperation.
Atabak proposed that for each area of cooperation, future actions should be specifically defined, a responsible authority for follow-up should be designated, and a timeline for program implementation should be compiled so that a more accurate evaluation of progress and the realization of agreed-upon goals can be made at the next meeting.