Russian Prime Minister Dmitry Medvedev signed an interim agreement for a term of four years that provides for the formation of a free trade area on a limited range of goods between the Eurasian Economic Union (EAEU) and Iran, says statement posted on the Russian government’s official website on April 24.
The statement, in particular, says that the agreement provides for the formation of a free trade area on a limited range of goods between the EAEU and Iran. The EAEU reportedly grants Iran tariff concessions on 502 harmonized commodity codes.
TASS reports that Russian Presidential Aide Yuri Ushakov said April 23 that the agreement on creation of a free trade zone between the Eurasian Economic Union and Iran may be signed within months.
“The talks on drafting a temporary agreement on creation of an EAEU-Iran free trade zone have been finalized. The plan is to sign it within months," he was quoted as saying.
In March, Iranian Ambassador to Russia Mehdi Sanaei said in an interview with TASS that the negotiations on establishing a free trade zone between the EAEU and Iran were nearing completion. The work on the agreement began in 2015, but the signing was repeatedly postponed.
The EAEU members include Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.
