Iran, EAEU trade surges 2.5 times

Trade volume between Iran and the Eurasian Economic Union (EAEU) has risen by more than 2.5 times, said the Head of Iran’s Trade Promotion Organization (TPO) Mohammad-Ali Dehghan Dehnavi.

News ID: 5203

Date: 06 October 2024 - 11:24

TABNAK, Oct, 06: He made the remarks on Sunday addressing the businesses of the Tehran Chamber of Commerce Industries Mines and Agriculture said that Iran and the EAEU started the implementation of the preferential trade agreement in 2018.

He added that the trade volume of the two sides has increased more than 2.5 times since then, and Iran's exports to this union have also grown more than 138% during this period.

Referring to the ties between the two sides, Dehghan Dehnavi added that Iran has suggested the establishment of an Iranian free zone in Armenia, which is a good opportunity to supply Iranian export in this country.

Iran and the EAEU reached a preferential trade agreement in 2018, based on which about 862 commodity data-x-items are currently subject to preferential tariffs. The agreement came into effect on October 27, 2019.

In December last year, the two sides also signed a Free Trade Agreement (FTA) during the EAEU Summit in St. Petersburg, Russia.