Iran, Eurasian Economic Union mull over free trade

April 15, 2015 - 0:0

MOSCOW (BelTA) – The Eurasian Economic Union (EEU) and Iran are considering the possibility of reaching an agreement on a free trade zone, the Eurasian Economic Commission told BelTA following the meeting of Chairman of the Eurasian Economic Union's Board Viktor Khristenko with Ambassador Extraordinary and Plenipotentiary of Iran to Russia Mehdi Sanaei.

“The parties discussed the ways and format of further cooperation between the EEU and Iran for a long-term perspective. The sides agreed to hold a number of meetings between high-level experts in order to discuss cooperation formats. The matter also pertains to the discussion of the possibilities to reach an agreement on a free trade zone,” the press service noted.

According to Viktor Khristenko, Iran is an important partner for all the EEU member states. “Cooperation between the EEU and Iran is an important area of our work in strengthening the economic stability of the region,” he said.

The treaty establishing the Eurasian Economic Union was formally signed by three states which were part of the former Soviet Union: Belarus, Kazakhstan, and Russia. Agreements to enlarge the EEU to Armenia and Kyrgyzstan were signed on 9 October and 23 December 2014, respectively.