EAEU, Iran to Launch Interim Free Trade Zone

Date: 11 October 2019 - 22:06

News ID: ۷۱۵۶۳

MOSCOW (Dispatches) - Member of the Board Minister for Trade of the Eurasian Economic Commission Veronika Nikishina has said that the interim free trade agreement between the Eurasian Economic Union and Iran will come into force on 27 October
"Reduced export duties and zero customs barriers will apply to a narrow specific group of commodities. Food, textiles, building materials, and also Iranian vegetables and fruits will be subject to preferential trade,” Nikishina said.
The EEC minister stressed that the free trade regime will apply exclusively to civilian goods, and that the Iranian market is of great interest to business of the EAEU countries.
Currently, the Eurasian Economic Union has the FTA with Vietnam only. An agreement to establish preferential trade relations with Singapore was signed on 1 October. Similar agreement with Serbia is scheduled to be signed on 25 October.