Iran, EEU Discuss Free Trade Agreement

The agreement on free trade was reviewed in St. Petersburg during the meeting between Vaezi and Nikishina.

Vaezi, who co-chairs Iran-Russia Economic Cooperation Commission with Russia’s Energy Minister Alexander Novak, told reporters that his discussions with Nikishina had helped the proceedings for Iran to join the EEU.

He described as important any effort to expedite the proceedings for Iran to join the Union.

The Iranian minister further emphasized that both sides should show more flexibility in the discussions, stressing that Tehran was ready to do so to help move toward a final agreement.  

He said Iran had already drafted a list of 200 items for trade with the EEU, adding that more items could be included in the future.

Vaezi said Iran and the EEU would implement a regime of preferential tariffs for three years after signing a mutual free trade agreement.  He added that both sides would later move toward free trade.

Nikishina, for her part, said the EEU was satisfied over the progress of talks with Tehran. She expressed hope that the final text of the agreement with Iran would be presented for discussion during the next meeting of the presidents of Iran and Russia.  

The EEU is an economic union of former Soviet states led by Russia which is meant to guarantee free transit of goods, services, capital and workers among member states. 

The bloc which began functioning on 1 January 2015 is being considered as a major economic force to challenge the might of the European Union and the US.

source : fars