Iran-EAEU talks on free trade zone agreement completed: ambassador to Russia

Negotiations between Iran and the secretariat of the Eurasian Economic Union (EAEU) on a free trade zone agreement have been completed, the document will be submitted to the parliaments of EAEU countries and Iran, Iranian Ambassador to Russia Kazem Jalali told a press conference in Moscow on Wednesday, TASS reports.

“I would like to announce some good news, it consists of the fact that negotiations between the Islamic Republic of Iran and the EAEU Secretariat on a free trade agreement have been completed. Of course, this agreement must be submitted to the parliaments of six countries: the parliaments of the five EAEU member countries and the Iranian parliament,” he said.

In early October, it was reported that work on the regulatory part of a full-fledged free trade agreement between the EAEU and Iran was almost completed.

In December 2021, the Supreme Eurasian Economic Council approved a draft protocol to an interim agreement necessary for the establishment of a free trade zone between the EAEU and Iran. The protocol provides for the extension of the agreement for three years or until the corresponding full-format agreement comes into effect.

The member-states of the Eurasian Economic Union (EAEU) are Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan.