Iran-EAEU Preferential Trade to Kick Off in November

Before leaving Tehran for the Armenia capital city of Yerevan late on Monday. Rouhani said that joining Eurasia will facilitate connecting to global economy. as the country`s economy will flourish when it will be competitive at the international scene.

The Iranian head of state is attending the EAEU Summit upon the invitation of Armenian Prime Minister Nikol Pashinyan.

The first stage of joining Eurasia Union will start in November. as our free zone`s commercial ties with Eurasia will start in the field of specific goods. he said.

Describing the EAEU Summit as significant. he added that his trip to Armenia is mainly economic while New York visit was mainly political and regional.

Kyrgyzstan. Kazakhstan. Russia. Belarus. and Armenia are five members of the union while Iran. Singapore. Moldavia. and Vietnam are on the course of joining the bloc.

Joining Eurasia will provide an opportunity for the Iranian businessmen to forge trade relations with five countries. which in turn pave the way for communicating with the other countries. as their economies are linked to those of the others.

Noting that it’s the first time for Iran to enter a regional economic union. the president said that joining the bloc is a very significant step. particularly at a time when the US is seeking to pile pressure on the Iranian people and its global trade.

As to his meetings in Armenia. he said that he is slated to talk with his Armenian counterpart late on Monday and also the country`s prime minister on Tuesday.

Referring to his schedule to meet Kazakh. Russian and Singaporean officials on the sidelines of the EAEU Summit. President Rouhani said that the event is an opportunity for exchanging views with the current member states as well as would-be members like Singapore.

Last month. Iranian Energy Minister Reza Ardakanian said that his country’s membership in the EAEU has brought in many advantage for Tehran. including tariff exemptions on 850 items of goods.

Speaking on the sidelines of his visit to Yazd province on September 12. 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.

Early in August. Prime Minister Pashinyan said that he has 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 had 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.

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