Iran-EAEU trade grows up by 14%

IRNA – Trade between Iran and the Eurasian Economic Union (EAEU) has grown up by 14% since Iranian accession and formation of Iranian Free Trade Zone, according to Trade Promotion Organization (TPO).

TPO announced on Tuesday night that the figure was announced during a video conference of Iran and five EAEU member states as well as the trade minister of the Union.

The talks were focused on the temporary agreement of forming a free trade zone between Iran and the Union and ways to expand trade between Iran and EAEU member states as well.

Andrey Slepnev, the minister in charge of Trade of the Eurasian Economic Commission, said that trade with Iran is subject to some restrictions and obstacles complicated due to the pandemic lockdown.

He, however, noted that the Union’s trade with Iran is growing.

Iran’s export of sunflower and wheat to the Union member countries has grown indicating good area for cooperation.

Iranian Deputy Minister of Industry, Mine and Trade Hamid Zadboom said for his part that a preferential trade tariffs agreement between Iran and EAEU has joined Iran to neighboring and friendly countries.

He said that Iran is resolved to continue with this agreement and expects the union to promote cooperation with Iran.