Iran, EEC to discuss Free Trade Zone

Eurasian Economic Commission (EEC) Trade Minister Veronika Nikishina said talks over the creation of a temporary free trade zone between the Eurasian Economic Union (EAEU) and Iran will be held in late June.

“We plan talks in Iran (regarding the temporary free trade zone) at the end of June,” Nikishina said addressing ongoing St. Petersburg International Economic Forum (SPIEF-2016) on Friday, the Tass news agency reported.

The twentieth St. Petersburg SPIEF kicked off on June 16 on a new site near St. Petersburg. The 2016 SPIEF, which is held annually under the auspices of Russian President Vladimir Putin, is attended by business representatives and officials from dozens of countries. It will be wrapped up on June 18.

She added that Tehran and EAEU are discussing the list of goods eligible to enter the free trade zone with the Islamic Republic.

Nikishina also said that the second round of the talks is expected to be held in mid-July.

“By mid-July we will agree joint findings of the report, and then I will be prepared for a trip to Iran in order to finally accord the document,” she said.

Last year in April, Chairman of the EAEU Board Viktor Khristenko had referred to Iran as an important partner for all the EEU member states.

“Cooperation between the EAEU and Iran is an important area of our work in strengthening the economic stability of the region,” he said.

The Eurasian Economic Union (EAEU or EEU) is an economic union of states located primarily in northern Eurasia. A treaty aiming for the establishment of the EEU was signed on May 29, 2014 by the leaders of Belarus, Kazakhstan and Russia, and came into force on January 1, 2015.

Agreements to enlarge the EAEU to Armenia and Kyrgyzstan were signed on October 9 and December 9, 2014, respectively.

(Source: Tasnim, under Creative Commons licence)

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