Groundwork laid for 25fold increase in trade with EAEU

Groundwork laid for 2.5-fold increase in trade with EAEU

TEHRAN – The Head of Iran's Trade Promotion Organization (TPO) Mohammad Ali Dehghan Dehnavi says the Preferential Trade Agreement (PTA) between Iran and the Eurasian Economic Union (EAEU) has paved the way for a 2.5-fold increase in trade with member states over the past five years.

As IRNA reported, Dehnavi emphasized the importance of preferential and free trade agreements during a meeting with members of the Entrepreneurs’ Assembly on Monday, noting that the PTA, signed five years ago, reduced tariffs on certain goods, enabling significant growth in trade with the EAEU region.

“This success has encouraged us to pursue a free trade agreement (FTA) with the union,” Dehnavi said. “The parliaments of the five EAEU member states have already approved the agreement, and in Iran, it is awaiting the Guardian Council’s approval. It is expected to be implemented at the beginning of the next Iranian year.”

Dehnavi added that the TPO, as the entity responsible for trade negotiations, is also pursuing similar preferential trade agreements with other countries. “Currently, negotiations for a PTA with Pakistan are underway,” he stated.

EF/MA

source: tehrantimes.com