TEHRAN, December 23. /TASS/. Russia expects that the free trade zone agreement (FTA) between the Eurasian Economic Union (EAEU) and Iran will enter into force in 2025, Russian Deputy Prime Minister Alexey Overchuk told reporters.
"We expect that in the near future the free trade zone agreement, that was signed in St. Petersburg last December on the sidelines of the Supreme Eurasian Economic Council, will be ratified [by all participants]. We expect that in 2025 it should enter into force," the Russian deputy prime minister said.
Overchuk reiterated that Iran is an important partner for Russia.
"[This is] a large country, a large economy, 85 million people. Of course, rapprochement with the EAEU will play a positive role here for the development of both the union market and the Iranian market," the Russian deputy prime minister added.
He recalled that a meeting of the Supreme Eurasian Economic Council is scheduled for this week, during which the participants are to approve Iran’s joining the association as an observer.
"This is also a very important step. Observation in the Eurasian Economic Union itself is established in such a way that it does not impose obligations on an observer country, but at the same time allows it to receive an advantage in the form of information about the activities of the union, to participate in the working bodies of the union," Overchuk said.
"By signing the agreement on a free trade zone, on the other hand, by becoming an observer, Iran receives a very good position on the Eurasian continent in terms of access to a large market, the Eurasian Economic Union is today - 190 million people. And, of course, there will be mutually beneficial cooperation," the Russian deputy prime minister explained.
He noted that at present "aspects of developing transport and logistics infrastructure are coming to the fore."