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Speaking on the sidelines of his visit to Yazd province on Thursday. Ardakanian said. In this great and lucrative economic market. 850 items of goods will be subject to tariff exemptions between the Islamic Republic of Iran and the EAEU member states.
With the coordination made in this regard. this agreement will be enforced on Oct. 23. he said. adding. With Iran’s accession to EAEU. suitable ways will be provided for the country in the field of exports and other economic activities in line with securing interests of the country.
Elsewhere in his remarks. Ardakanian pointed to the high potentials and capacities in Yazd province. saying. Yazd has high capacities for exports which can be used for promoting employment rate.
Iran’s free trade with the EAEU. which was put into effect at the approval of Iranian Parliament. is considered as an important step in Iran’s foreign trade and expansion of trade exchanges with northern neighbors. the energy minister added.
He went on to say that Iran’s exported goods to Russia. Kazakhstan. Belarus. Armenia and Kyrgyzstan would be enjoying zero preferential trade tariff rate within the framework of Iran’s free trade with the EAEU.
It is for the first time that Iran enters into a regional economic agreement actively since the Islamic Revolution in 1979.
Ardakanian put the total trade volume of EAEU member states at about $753 billion. adding. using this high potential and capacity can create a giant development in our economic ties with this union.
As US sanctions imposed against Iran and Russia have created restrictions for economic activities of the two countries. this agreement is of paramount importance for both sides and can be considered as a factor for broadening economic relations between Iran and Russia.
On Tuesday. Iran’s Ministry of Transportation announced that ports North and South of the country have registered a 1.9 percent increase in loading and unloading operations in the past 6 months. indicating a steady flow of trade despite the US unilateral sanctions against the country.
Washington’s unilateral sanctions against Tehran began in November 2018. five months after US President Donald Trump withdrew from an international deal on Iran’s nuclear program.
Claiming that the bans were working properly. Trump tightened them in May. only to see that Iran was finding new solutions to recoup the losses.
Last month. Deputy Head of Iran Small Industries and Industrial Parks Organization (ISIPO) Ali Asqar Masaheb announced that Iran will undertake new measures to further strengthen its non-oil exports with a new bill to be tabled at the Iranian Parliament.
Iranian officials started planning for policies to counter the US possible sanctions a year before Donald Trump entered into office in early 2017. The policies are now proving effective as economic indexes are indicating inefficacy of the US pressures.
Earlier in July. Iranian Industry Minister Reza Rahmani said that despite US efforts to cripple Tehran’s economy. year-on-year comparison shows that the country’s domestic production has increased in the first quarter of the local calendar year (March 21-June 21).
