Iran ratifies free trade agreement with Eurasian economic union

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Economy

10.06.2019, 17:07

The parliament of the Islamic Republic of Iran has ratified today an agreement to create free trade zone with the Eurasian Economic Union (EEU).

Iran ratifies free trade agreement with Eurasian economic union

YEREVAN, June 10. /ARKA/. The parliament of the Islamic Republic of Iran has ratified today an agreement to create free trade zone with the Eurasian Economic Union (EEU).

A provisional agreement to create a free trade zone between Iran and the EEU was signed in May 2018, Russian news agency TASS reported. Under the provisional agreement, customs duties on imports of a wide range of goods are to be cut and removed.

The provisional arrangement is to last for three years before to translate into a full-fledged deal. The provisional agreement had been signed by Russia and other members of the Eurasian Economic Union. The EEU member states are Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.-0-

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