Ratification of the Free Trade Agreement between the EAEU and Iran
The State Duma of the Russian Federation has ratified the free trade agreement between the Eurasian Economic Union (EAEU) and the Islamic Republic of Iran.
The agreement establishes trade rules that closely align with the World Trade Organization's regulations for trade between the EAEU, its member countries, and Iran. Key provisions include creating a more favorable trading environment, eliminating quantitative restrictions on imports, and more.
Additionally, the agreement outlines cooperation in various sectors, including the extraction, processing, and utilization of natural resources, energy efficiency, science and innovation, education, healthcare, and transportation.
The document also defines a preferential trade regime for approximately 87% of the products in the external economic activity commodity list.
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