Implementing FTA between Iran, EAEU to Boost Agricultural Exports

Arsalan Qassemi pointed to the signing of the FTA between Iran and EAEU and stated that restrictions and lack of the launch of free trade between Iran and the union were some of the major problems facing Iran in boosting trade with those countries.

Qassemi referred to the cruel sanctions imposed by the Western countries, especially the United States, against Iran and said that Iran’s import and export target markets were significantly restricted due to the sanctions.

The implementation of trade agreements with the EAEU requires providing the necessary infrastructures, he said, calling on the responsible officials to remove the existing trade barriers in order to enhance trade-economic relations with the world, BORNA news agency reported.

Boosting relations with neighboring countries in all fields, especially trade and economy, is one of the main policies of the administration of President Ebrahim Raisi, he stated, adding that the capacities of other countries should be used optimally in order to spur economic activities.

On December 25, 2023, on the sidelines of the Supreme Eurasian Economic Council in St. Petersburg, a free trade agreement was signed between the Eurasian Economic Union’s member states and Iran.

The Free Trade Agreement was inked by Iran’s Minister of Industry, Mine and Trade Abbas Aliabadi and officials of the union on Monday.

Upon the implementation of this agreement, the tariff rate of 87 percent of trade goods between Iran and EAEU member states will be minimized to zero level.

In 2018, Iran and the EAEU inked a Preferential Trade Agreement (PTA), which came into effect on October 27, 2019. The two sides later began negotiations to upgrade the PTA to an FTA after the success of the former.