Pars Today – The head of Iran’s Trade Promotion Organization stated that members of the Eurasian Economic Union (EAEU) have welcomed the holding of an exhibition showcasing Iran’s export capabilities.
Mohammad Ali Dehghan Dehnavi, the head of Iran’s Trade Promotion Organization, referring to the significant presence of Iranian companies at the Eurasia Exhibition, said: The capabilities of Iranian producers will be showcased at this event with the aim of exporting to Eurasian countries, and alongside these companies, representatives from EAEU member states will also participate.
According to Pars Today, Dehghan Dehnavi added: Iran enjoys good political relations with the member states of the Eurasian Economic Union, and from an economic perspective, in addition to signing a free trade agreement with these countries, our observer membership in the union has been accepted.
According to the head of Iran’s Trade Promotion Organization, the free trade agreement between Iran and Eurasia will be finalized and implemented within the next two months, providing numerous opportunities for both sides under the framework of this agreement.
The international Eurasia exhibition will be held in Tehran from February 21 to 24, and the member states of the Eurasian Economic Union have expressed their readiness to participate in this exhibition.
The Eurasian Economic Union is an intergovernmental economic union comprising Belarus, Kazakhstan, Russia, Kyrgyzstan, and Armenia, with Iran holding observer status in the union. On January 19, 2023, Iran and the Eurasian Economic Union signed a free trade agreement.
Iran to eliminate 87% of tariffs in EAEU member states
In this regard, Seyyed Mohammad Atabak, Iran’s Minister of Industry, Mine, and Trade, stated: “The 240 million people in the EAEU member states represent part of the target market for Iran’s trade, and 87% of tariffs in these countries will be reduced to zero.”
He described the Eurasian Economic Union trade agreement as a facilitator of interbank transactions between traders and merchants.
Development of joint investments among EAEU member states
Khosrow Hassan Begoff, the representative of Russia’s Export Development Center in Iran, said: The implementation of the free trade agreement between Iran and Eurasia will serve as a powerful facilitator for the growth of trade exchanges between Russia and Iran.
This agreement eliminates tariff barriers for a wide range of goods, making them more competitive in the markets of both countries. It enables us to establish a process to replace imports from unfriendly countries with mutual trade supplies. Furthermore, the free trade agreement between Iran and the Eurasian Economic Union will create favorable conditions for the development of joint investments.
MG/BK
