Zarif: Ground paved for expansion of regional trade within Eurasian Union

October 2, 2019 - 20:41

TEHRAN – Iranian Foreign Minister Mohammad Javad Zarif has said that important progress has been made at the Eurasian Economic Union (EEU) summit and ground has been paved for expansion of regional trade.

“Important progress in Yerevan as Iran joins #EEU Summit, and together with the Member States, ratifies PTA.

With parallel work on North-South & South-West Transit Corridors, ground paved for expansion in regional trade & cementing of our role as a vital transit hub,” Zarif tweeted on Tuesday.

The EEU summit was held in Yerevan, Armenia, on Tuesday. Iran also attended the conference.

EEU includes Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia.

During a speech at the summit, President Hassan Rouhani called for forming a special task force for joint investment.

“I welcome any kind of financial and banking cooperation with member states to Eurasian Union. So, I suggest the formation of a special task force for joint investment,” Rouhani told the delegates at the EEU summit.

He also noted that Iran supports cooperation within the framework of economic and political blocs such as the EEU, the Shanghai Cooperation Organization (SCO) and the Economic Cooperation Organization (ECO).

Elsewhere, he said that the international community must counter the United States’ unilateralism.

“The international community must take a firm decision and also take effective actions to counter the United States’ unilateralism and hostile approach,” Rouhani suggested.

Russia, Kazakhstan, and Belarus signed the massive new trading bloc in May 2014.

The deal will guarantee the free transit of goods, services, capital, and workers.


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