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EAEU committee urges preparation of interim agreement on free trade zone with Iran

March 07, 2017, 17:45 UTC+3 BISHKEK
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BISHKEK, March 7. /TASS/. The intergovernmental committee of the Eurasian Economic Union has made a resolution to start preparation of an interim agreement which will make it possible to create a free trade zone between the EAEU and Iran in the future. The document was approved following the results of the committee’s meeting that was held in the Kyrgyz capital of Bishkek on Tuesday.

In December 2016, at the summit of the EAEU the presidents of Russia, Kazakhstan, Kyrgyzstan and Armenia approved the proposals on the need to start negotiations on a free trade zone with Iran, Egypt, India and Singapore.

During the summit, Armenian President Serzh Sargsyan said that Iranian President Hassan Rouhani had expressed interest in signing an interim agreement with the EAEU, leading to the formation of a free trade zone.

The Eurasian Economic Union (EAEU) is an international integration economic association of Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan. The EAEU came into existence from January 1, 2015 having superseded the Eurasian Economic Community (EurAaEC) that functioned from 2000 to 2014.

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