The next economic forum of the Eurasian Union was held on September 30 and October 1 in Yerevan (Armenia), and Iran became a special guest of this meeting.
Iranian Minister of Industry, Mining and Trade Mohammad Atabak and Minister of Trade of the Eurasian Economic Commission (EEC) Andrey Slepnev discussed ways to expand economic cooperation at a meeting within the framework of the Eurasian Business Forum in Armenia.
At this meeting, the Iranian side emphasized the need to create an insurance company within the framework of the Eurasian Economic Union (EAEU) to provide the necessary guarantees regarding Iran's technical and engineering exports to the region, IRIB reports. The parties also discussed the growth of trade turnover between Iran and the Eurasian Economic Union and the implementation of the Agreement on free trade (FTA). Another important point of the negotiations was the unification of standards of the EAEU member countries with Iran to simplify exports to the union.
At this meeting, the Iranian Minister of Industry invited Slepnev to attend the third stage of the Eurasia exhibition in Iran.
Iranian Minister of Industry, Mining and Trade Mohammad Atabak and Minister of Trade of the Eurasian Economic Commission (EEC) Andrey Slepnev discussed ways to expand economic cooperation at a meeting within the framework of the Eurasian Business Forum in Armenia.
At this meeting, the Iranian side emphasized the need to create an insurance company within the framework of the Eurasian Economic Union (EAEU) to provide the necessary guarantees regarding Iran's technical and engineering exports to the region, IRIB reports. The parties also discussed the growth of trade turnover between Iran and the Eurasian Economic Union and the implementation of the Agreement on free trade (FTA). Another important point of the negotiations was the unification of standards of the EAEU member countries with Iran to simplify exports to the union.
At this meeting, the Iranian Minister of Industry invited Slepnev to attend the third stage of the Eurasia exhibition in Iran.
In early October, the Astana Times reported that Iran is interested in obtaining observer state status in the EAEU.
The decision to grant a foreign partner such status is made by the heads of the EAEU member states at a meeting of the Supreme Eurasian Economic Council, the department added.
Iran and the EAEU reached a preferential trade agreement in 2018, under which some 862 products are currently subject to preferential tariffs. The agreement came into force on October 27, 2019.
Later, on December 25, 2023, during the EAEU summit in St. Petersburg, Russia, the parties also signed a Free Trade Agreement (FTA). A member of the Iran-Russia Joint Chamber of Commerce and Industry predicts that after the free trade agreement comes into force, more 88 percent of goods between Iran and EAEU member states will be exchanged at zero duties.
The free trade agreement between the two countries is expected to make it easier for exporters to access their target market, Kambiz Mirkarimi said.
The decision to grant a foreign partner such status is made by the heads of the EAEU member states at a meeting of the Supreme Eurasian Economic Council, the department added.
Iran and the EAEU reached a preferential trade agreement in 2018, under which some 862 products are currently subject to preferential tariffs. The agreement came into force on October 27, 2019.
Later, on December 25, 2023, during the EAEU summit in St. Petersburg, Russia, the parties also signed a Free Trade Agreement (FTA). A member of the Iran-Russia Joint Chamber of Commerce and Industry predicts that after the free trade agreement comes into force, more 88 percent of goods between Iran and EAEU member states will be exchanged at zero duties.
The free trade agreement between the two countries is expected to make it easier for exporters to access their target market, Kambiz Mirkarimi said.
Iran's Mazandaran exported more than 800 thousand tons of goods to the EAEU The head of the customs departments of Mazandaran province reported that in the first six months of the current Iranian calendar year (starting from March 21, 2024), 814,000 metric tons (t) of non-oil goods were exported from Mazandaran province. Amir Jamshidi continued, saying that from March 21 to September 21, 2024, 814 thousand tons of non-oil goods worth more than $260 million were exported from this northern province to the EAEU member states, which is six percent more than in the same period last year.
He added that the volume of foreign trade at the customs of Mazandaran province with the EAEU countries amounted to more than 260.93 million US dollars. The 3rd Eurasian International Exhibition will be held in Tehran The 3rd Eurasian International Exhibition in Iran will be held at the Permanent International Exhibition Complex of Tehran from 3 to 6 December.
He added that the volume of foreign trade at the customs of Mazandaran province with the EAEU countries amounted to more than 260.93 million US dollars. The 3rd Eurasian International Exhibition will be held in Tehran The 3rd Eurasian International Exhibition in Iran will be held at the Permanent International Exhibition Complex of Tehran from 3 to 6 December.
The Eurasian Economic Union is an international organization for regional economic integration. The EAEU ensures the free movement of goods, services, capital and labor, and pursues a coordinated, consistent and unified policy in the sectors defined by the Treaty and international treaties within the Union. The member states of the Eurasian Economic Union are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic Republic and Russian Federation. The Union is being created for the purpose of comprehensive modernization, increasing the competitiveness and cooperation of national economies, promoting sustainable development in order to improve the living standards of the peoples of the member states.
