Iranian trade relations with Eurasian Economic Union develop

TEHRAN. KAZINFORM - The head of Iran's Trade Development Organization announced 69 percent growth in Iran's exports in the category of preferential goods by the The Eurasian Economic Union (EAEU) from November to the end of March.

Hamid Zadboom noted on Monday at a meeting of representatives of private sectors active and expert in the field of trade with the Eurasian Economic Union that the growth shows the ability of this agreement to help develop Iran's exports to the Eurasian Economic Union.

Referring to the implementation of the interim agreement between Iran and Eurasia and its impact on the development of trade between the two countries, he said: «It is necessary to review the performance of this agreement during its implementation and to consider the challenges, problems, and obstacles to its implementation and make use the most of this opportunity in cooperation with the private sector.

The Eurasian Economic Union (EAEU) is an economic union of states located in central and northern Asia and Eastern Europe.

The Treaty of the Eurasian Economic Union was signed on 29 May 2014 by the leaders of Belarus, Kazakhstan and Russia, and came into force on 1 January 2015.

Treaties aiming for Armenia's and Kyrgyzstan's accession to the Eurasian Economic Union were signed on 9 October and 23 December 2014, respectively. Armenia's accession treaty came into force on 2 January 2015.

Kyrgyzstan's accession treaty came into effect on 6 August 2015. It participated in the EAEU from the day of its establishment as an acceding state.

Source: IRNA