MNA – Iran and the five Eurasian Economic Union member states have reached an initial agreement on preferential tariff duty rate for 530 industrial goods to be exported to Armenia.

The draft was signed by Iran’s Deputy Minister of Industry, Mine and Trade Mojtaba Khosro Taj and the EEU minister Veronika Nikishina on Thursday in Yerevan after two days of negotiations between the two sides.

The draft lists 350 industrial goods manufactured by Iran and 180 similar clauses for Eurasia. Given the plans for future talks, the list can be expanded which can lead to further development of economic ties between Iran and the EEU.

On Wednesday, Iran-EEU and Armenia economic forum was held in Yerevan with the presence of Vice Prime Minister of Armenia Vache Gabrielyan, Khosro Taj who headed the Iranian delegation, and a number of trade and industry deputy ministers from EEU member states.

Iran and EEU member states including Armenia, Russia, Kazakhstan, Belarus and Kyrgyzstan have been in extensive talks for about three years to establish a free trade zone.