The Armenian parliament has approved the free trade agreement between Iran and the Eurasian Economic Union (EEU).

According to The Iran Project, the agreement was ratified on Friday after 95 Armenian lawmakers voted in favor of the agreement.

The agreement is based on a preferential trade agreement signed between Iran and the EEU in 2019, according to Armenian Economy Minister Gevorg Papoyan.

He said that the 2019 deal had boosted annual trade between the union’s member states and Iran from $2.4 billion to $5.2 billion.

The free trade deal between Iran and the Russia-led EEU will come into effect once the parliaments of all member states, which also include Kazakhstan, Kyrgyzstan, and Belarus, approve the agreement.