FTA to Triple Iran-EAEU Trade Exchange: Official

TEHRAN (Tasnim) – An Iranian official said the launch of a Free Trade Agreement (FTA) between Iran and the Eurasian Economic Union (EAEU) is expected to triple the volume of bilateral trade exchanges.

Speaking to IRNA on the sidelines of the 2nd Eurasian Economic Forum in Moscow, Iran’s envoy at EAEU Omid Golzari put the value of trade exchanges between Iran and the EAEU at $5.5 billion.

He said the volume of trade exchanges will be tripled upon signing a comprehensive free trade agreement.

Golzari put the value of trade exchanges between Iran and EAEU in 2022 at around $3.3 billion.

The economic cooperation between Iran and EAEU has reached a very sensitive and important stage, he added, noting that 1.8 million tons of non-oil products were exchanged between Iran and the EAEU member states, including agricultural, industrial, construction and petrochemical products.

He also pointed to the topics discussed at the forum in Moscow, saying suitable ways have been provided for Iran to play a constructive role at the union given the specific regional conditions.

Iran should use all its capacities and potentials to expand ties with the EAEU optimally and increase the balance of trade with the union with a focus on exports, he stated.

The 2nd EAEU Economic Forum kicked off in Moscow on Wednesday with the participation of more than 500 representatives from 54 countries.666666

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