Eurasian Economic Union signs trade agreement with Iran

The Eurasian Economic Union, headed by Russia and featuring several former Soviet republics, signed a preliminary agreement on trade with Iran on May 17, the Ministry of Economy of Kazakhstan announced.

The agreement signed in Astana follows the announcement of the United States’ withdrawal from the nuclear agreement with Iran and the reinstating of sanctions on the country.

The new agreement will lower customs fees on certain goods over a three-year period for the purpose of reaching a long-term agreement on the free trade zone, the Kazakh ministry added.

Let us remind that the Eurasian Economic Union has announced that it is negotiating about a free trade zone with Serbia as well.

Eurasian Economic Union

free trade between Eurasian Economic Union and Iran

Ministry of Economy of Kazakhstan