Iran, EAEU Trade Doubles after Signing PTA: Industry Minister
TEHRAN (Tasnim) – Iran’s minister of industry, mine and trade said that the trade exchanges between Iran and the Eurasian Economic Union (EAEU) have increased more than twofold since 2019.
Abbas Aliabadi made the remarks on Monday, adding that cooperation between Iran and the EAEU’s member states has considerably increased since the signing and sealing of a Preferential Trade Agreement (PTA) in 2019.
In this period, the trade exchanges between the two sides increased more than twofold, he said.
Iran and the member states of the EAEU have agreed on the text and list of goods for a free trade deal.
Back on November 21, an official from the Trade Promotion Organization of Iran (TPO) said that Iran is set to sign a Free Trade Agreement (FTA) with the union within the next two months.
Upon the parliamentary approval, the agreement is slated to take effect in the upcoming Persian calendar year, beginning in March 2024, according to the industry minister.