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Iran’s free trade with Eurasian Economic Union is an important step in Iran foreign trade and developing exchanges with northern neighbors, Mahdi Sanaei wrote in his Twitter account.
Earlier speaking to IRNA, he said that negotiations started four years ago and a chart of those products which are supposed to enjoy zero tariff or its reduction has been prepared.
This issue, after its implementation, will have a significant impact on regional trade, and will contribute to the development of trade exchanges between Iran and the Eurasian Economic Union states by reducing customs tariffs, he added.
Iranian members of parliament passed the bill on temporary establishment of free trade zone between Iran and Eurasian Economic Union on Monday.
In the wake of various talks, both sides reached an agreement on putting preferential tariffs on many goods which are exported from Iran to Russia, Armenia, Kazakhstan, Belarus and Kyrgyzstan and also on those imported to Iran.
One of the main objectives of the trade agreements is to create facilities and eliminate the difficult rules for traders and investors.
Signing the preferential tariff agreement and the establishment of a free trade zone between Iran and the Eurasian Union has also led to the development of economic relations between Iran and the Eurasian Union and could help Iran's regional hub and strengthen the north-south corridor.
The Eurasian Economic Union is an economic union of states located in central and northern Asia and Eastern Europe. The Treaty on the Eurasian Economic Union was signed on 29 May 2014 by the leaders of Belarus, Kazakhstan and Russia, and came into force on January 1, 2015.
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