The Supreme Eurasian Economic Council may by the end of 2020 decide to conclude a permanent agreement on a free trade zone with Iran. This was reported to reporters in the trade block of the Eurasian Economic Commission (EEC).
"According to the interim agreement and the results of the first meeting of the joint committee, in July, a procedure was initiated to consider a decision to start negotiations on concluding a permanent agreement between Iran and the EAEU. Now we have received approvals from the collegium and the board of the commission. The adoption of the necessary decision by the Supreme Eurasian Economic Council is expected by the end of this year," the message says.
The EEC notes that for 8 months of 2020, trade between the EAEU and Iran increased by 2% and exceeded $ 2 billion. The main contribution to the increase was made by an increase in imports from Iran by almost $ 230 million. Food products and agricultural raw materials amounted to about 80% or $ 939 million of volumes of supplies from the EAEU countries to Iran, more than half of which - $ 609 million - fell on grain.
In turn, similar goods accounted for most of the supplies from Iran to the Union - 68% or $ 575 million. The main drivers of growth in imports from Iran were fruits and nuts. The Eurasian Economic Union and Iran signed an interim agreement on a free trade zone on May 17, 2018, which is designed to increase trade between the countries by facilitating the customs regime.
Source: milknews.ru.
