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Expert comments on EAEU-Iran free trade zone agreement

May 17, 12:20 UTC+3 MOSCOW

A temporary free trade zone agreement between the Eurasian Economic Union and Iran will contribute to transition to mutual settlements in national currencies, an expert says

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Tehran, Iran

Tehran, Iran

© AP Photo/Vahid Salemi

MOSCOW, May 17. /TASS/. Signature of a temporary free trade zone agreement between the Eurasian Economic Union (EAEU) and Iran will contribute to transition to mutual settlements in national currencies, Vice President of the Russian Chamber of Commerce and Industry Vladimir Padalko told TASS on Thursday.

"This is an extra signal to everyone that the Iranian market awaits our businessmen and we will proactively work there. The business hopes that the free trade zone agreement will facilitate interaction between entrepreneurs from the EAEU and Iran, receipt of visas to this country and that the agreement will also promote the transition to settlements in national currencies, because we cannot work with the dollar now in view of US sanctions," Padalko said.

Resumption of US sanctions against Iran will not push away entrepreneurs and will not disturb interaction within the free trade zone agreement framework, the expert added. "I think they will not delay the activity of certain European countries in respect of Iran," he said.

The business expects that the European Union will not introduce restrictions on settlements with Iran in euro. "We hope Europeans will defend their positions and settlements in euro will remain. This is significant for us, because we are paying in euro to our Iranian partners now," Padalko said.

It was reported earlier today that the EAEU and Iran signed a temporary free trade zone agreement designed for the increase in the trade turnover on account of relaxation of the customs regime.

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