A senior official of the Eurasian Economic Union (EAEU) says a recently-singed free trade agreement with Iran is important for them, pointing to the country's key role in the North-South Corridor.

According to The Iran Project, The free trade agreement with the Islamic Republic of Iran is important to us because Iran is a key partner on our southern borders and one of the pivotal countries in the North-South Corridor," said Andrei Slepnev, minister of trade of the Eurasian Economic Commission, IRNA reported on Friday.

He added that Iran has made significant achievements in import substitution, developing its own technologies, and resisting the pressure of sanctions.

Iran and the Eurasian Economic Union signed an agreement last December to initiate free trade, six years after Tehran joined the bloc. This move aims to diversify Iran's trade partners in response to Western sanctions.