Iran Energy News Oil, Gas, Petrochemical and Energy Field Specialized Channel
Related Articles
A long-anticipated trade deal between Iran and the EAEU will officially take effect on October 27. after Sanayee and Sarkisyan held a meeting to finalize an interim agreement that would lead to the formation of a free trade zone between Iran and the regional union.
A press release from the EEC showed that Sanayee and Sarkisyan had exchanged the documents needed to complete formalities for the deal to come into force in late October.
The negotiations were challenging. but they are over. The agreement has been signed and ratified. The progress is evident. said Sanayee.
Iran’s Minister of Energy Reza Ardakanian also appeared in a late-night TV interview on Wednesday saying that Iran` official accession to the EAEU will begin some 60 days after the exchange of documents in Moscow.
Ardakanian said the accession would be a major breakthrough for Iran’s trade as it would allow exports on zero tariffs for 70 products while 503 other items would enjoy lowered duties.
We can supply our goods and products to their markets through the land borders of the Republic of Armenia as well as sea borders of the Russian Federation and Kazakhstan. said Ardakanian. making a reference to the countries members to the EAEU which also includes Belarus and Kyrgyzstan.
He said Iranian President Hassan Rouhani would attend an EAEU summit in Yerevan in late September before his country officially joins the economic bloc.
Early in this month. Armenian Prime Minister Nikol Pashinyan said that he had been tasked by the leaders of the countries of the Eurasian Economic Council to invite President Rouhani to the supreme meeting of the body slated to be held in Yerevan in October.
During his speech at the session of the Eurasian Intergovernmental Council in Kyrgyzstan. Pashinyan said that he has invited President Rouhani to Yerevan to participate in Supreme Eurasian Economic Council meeting on October 1.
In accordance with the agreement between the leaders of the EAEU member states. I have invited the President of Iran to participate in Supreme Eurasian Economic Council meeting in Yerevan. the Armenian Prime Minister said.
The chairmanship in the EAEU is given to Armenia for this year.
Late in June. it was announced that Iran. a non-member to the World Trade Organization (WTO). will enjoy the benefits of trading on WTO terms with the member states of the EAEU in a joint free trade zone (FTZ). as Tehran is removing the legal obstacles to put its deal with EAEU into practice.
