EAEU, Iran Close to Concluding Free Trade Zone Agreement: Russian Deputy PM
TEHRAN (Tasnim) – The agreement on setting up a free trade zone between the Eurasian Economic Union (EAEU) and the Islamic Republic of Iran could be signed this year, a Russian official said.
The Eurasian Economic Union (EAEU) may strike a deal on a free trade zone with Iran earlier than with other countries, Russian Deputy Prime Minister Aleksey Overchuk told TASS at the 14th International Economic Forum ‘Russia - Islamic World: KazanForum’ on Friday.
"We are closest with Iran," he said when asked which countries the EAEU is closest to reaching an agreement with on a free trade zone.
Eurasian Economic Commission (EEC) Trade Minister Andrey Slepnev said earlier that the agreement on a free trade zone between the EAEU and Iran could be signed as early as this year.
The Eurasian Economic Union was established in 2015 at the initiative taken by Russian Federation, Kazakhstan and Belarus.
Afterward, the Republic of Armenia and Kyrgyzstan joined the Union.