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EAEU and Iran pass on to preferential trade conditions

EAEU and Iran pass on to preferential trade conditions


Tigran Sargsyan, Chairman of the Board of the Eurasian Economic Commission (EEC), and Mehdi Sanai, Ambassador Extraordinary and Plenipotentiary of the Islamic Republic of Iran to the Russian Federation, exchanged diplomatic notes on completing the necessary procedures for entry into force of the Interim Agreement leading to the formation of a free trade area between the Eurasian Economic Union (EAEU) and Iran during the meeting, which took place on August 28 in the EEC. This means that the agreement will be effective already on October 27.

Welcoming the Ambassador of the Islamic Republic of Iran and calling the completion of ratification procedures a historic event, Tigran Sargsyan highlighted a great personal role of Mehdi Sanai and Veronika Nikishina, Member of the Commission’s Board - Minister in charge of Trade, in achieving the successful result.

“The Heads of States of the Eurasian Economic Union declared that forming the free trade area with the Islamic Republic of Iran is a priority in the Eurasian Economic Commission’s activities, – stressed the Chairman of the EEC Board. – This means that they have mandated us to conduct negotiations with our Iranian colleagues. So, today is a great day for us, since we have received an official confirmation that the document is going to be enacted very soon”.

In his reciprocal address, Mehdi Sanai highlighted a great contribution made by Tigran Sargsyan and the Eurasian Economic Commission as a whole in achieving the final result. “It is also a very important agreement for Iran, which will certainly bring large benefits to our country’s economy, to both our people and the peoples of the EAEU. The negotiations were not a simple path, yet, now they have been successfully completed. The agreement has been signed and ratified. The result is obvious!”, – stated the Ambassador of the Islamic Republic of Iran.    

Following the meeting’s results, the arrangement was reached to continue close cooperation, including that aimed at implementing the agreement. Hence, the dialogue on deepening the cooperation between customs services has already been started; the business dialogue is going to be created as stipulated by the agreement, while its work format is now being agreed upon.

Mehdi Sanai suggested to hold in the near future in Iran a joint business conference with the EEC, when the Iranian entrepreneurs will be explained the advantages of trading on the EAEU single market.