The Iran Project
: Iran has been granted observer status in the Eurasian Economic Union (EAEU).
Friday 27 December 2024 - 17:00
Story Code : 433348
Source : Mehr News
EAEU grants observer status to Iran
Meanwhile, Iran's request for observer status in the EAEU was considered in August 2024. Participants in the discussions highlighted the steady growth in trade and economic cooperation between EAEU member states and Iran. Trend News Agency reported.
Additionally, Iran's exports to EAEU countries increased by 21% in value and 22% in volume during the first nine months of the current Iranian year (from March 20 to December 20, 2024), compared to the same period last year (from March 21 to December 21, 2023).
In these nine months, Iran exported 3.86 million tons of goods to EAEU countries, worth approximately $1.5 billion.
The Eurasian Economic Union constitutes a transnational entity facilitating regional economic synergies and collaborative frameworks. The entity possesses an international legal personality and was constituted through the Treaty on the Eurasian Economic Union, executed on May 29, 2014, in Astana. The primary aim is to establish a unified marketplace analogous to the EU. The objective is to realize this through the synchronization of economic policy frameworks, the eradication of non-tariff trade impediments, the alignment of regulatory standards, and the modernization of the economic infrastructures across its quintet of member states.
Reporter : Editorial of The Iran Project
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