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Eurasian Economic Union

Eurasian Economic Union, Iran may reach free trade zone agreement by fall

"There have been no political obstacles because Iran and we want to establish such a zone," Russia’s deputy foreign minister said

GENEVA, April 28. /TASS/. Talks on the temporary free trade zone agreement between the Eurasian Economic Union (EAEU) and Iran are scheduled for completion by the next EAEU summit this fall, Russia’s Deputy Foreign Minister Vasily Nebenzya told TASS on Friday.

"There have been no political obstacles because Iran and we want to establish such a zone," the diplomat said. "This is merely an issue of negotiating conditions for this zone: what goods items we will open for access and what ones will be held; the same is from Iran’s part," Nebenzya said.

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Negotiations of the temporary free trade zone agreement between the EAEU and Iran were planned to be completed by the latest summit of the Eurasian Economic Union held on April 14, the diplomat said. "However, we decided it will be advisable to continue discussing this topic and proceed with talks," he said. "I hesitate to mention the timeframe but I think we will gear up for the next EAEU summit in fall," Nebenzya added.

Normal negotiating process is currently underway, the diplomat said. "When any countries are negotiating a free trade zone between them, they are naturally in the course of defending their economic interests and attempting to gain advantages in certain areas through bargaining," Nebenzya added.

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