EEU and Iran to have talks on free trade zone in September

EEU and Iran to have talks on free trade zone in September

Members of the Russia-led  Eurasian Economic Union (EEU) and Iran will hold the first full round of negotiations on  concluding  a free trade zone  agreement in September 2021 according to, a representative of the Eurasian Economic Commission (EEC), the executive arm of the EEU.

The announcement came after a meeting of the delegations tasked to negotiate the conclusion of the free trade agreement between the EEU and Iran.

According to official data, trade between the EEU and Iran increased in 2020 by 18.5% compared to 2019, reaching $2.9 billion. Exports of the EEU countries to Iran in the first quarter of 2021 increased by 43.5% compared to the same period last year, and imports - by 20%.

An interim agreement preceding the formation of the free trade zone with Iran was signed on May 17, 2018 and entered into force on October 27, 2019, TASS reported.

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