Iran to Join Free Trade with EAEU

The legal documentation for organizing a free trade area with the EAEU is set to be regulated within a month. According to RIA Novosti, this announcement was made by Iran's Deputy Minister of Industry, Mines and Trade, and head of the Iran Trade Development Organization, Alireza Peymanpak.

Peymanpak and Alexander Shokhin, the head of the Russian Union of Industrialists and Entrepreneurs, signed a memorandum today in St. Petersburg during the 'Russian Industrialist' conference, establishing a Russia-Iran Business Cooperation Council.

'Considering that the final agreements and documentation regarding Iran's presence in the EAEU will be completed within a month, this could be a positive factor that will influence joint cooperation,' said Peymanpak.

He added that Iran is interested in the establishment of a free economic zone within the framework of the Eurasian Economic Union and is prepared to provide southern ports for that free zone with all privileges.

Earlier, Russian Deputy Prime Minister Alexander Novak announced that Russia and Iran have agreed to sign a free trade zone agreement with the EAEU in the near future.