good news iran: Customs tariff of 80% of goods between Iran, EAEU to hit zero

A joint meeting of Iranian delegation and representatives of EAEU member states was held in Isfahan Chamber of Commerce to conclude a Free Trade Agreement (FTA) with Eurasia.

In this meeting, Advisor to the Trade Promotion Organization of Iran (TPOI) for International Affairs Mir-Hadi Seyyedi, who heads Iran negotiating delegations in EAEU talks, called on producers and traders to take effective steps for having strong presence in lucrative EAEU markets.

If Preferential Trade Agreement (PTA) inked between Iran and the Union in 2018 is turned into a Free Trade Agreement (FTA), the trade tariffs for about 80 percent of goods between Iran and EAEU member states would come to zero, he said, adding, “It is clear that if FTA is launched, it would have a great impact on boosting trade between EAEU member states.”

Not only this agreement will increase Iran’s export of products to five EAEU countries, but also FTA will facilitate Iran’s import demands from the Eurasian market, Seyyedi added.

The provisions stipulate that Free Trade Agreement will create this capacity to develop joint investment and production between the two sides, he added.

A Preferential Trade Agreement (PTA) was inked between Iran and EAEU in 2018.

MA/5532990