News ID: 177386
Published: 0622 GMT February 10, 2017

Iran, EEU discuss details of FTZ agreement

Iran, EEU discuss details of FTZ agreement

The establishment of a free trade zone between Iran and the Eurasian Economic Union (EEU) could provide a serious impetus to the development of bilateral economic ties, said the head of the second Asian department of Russia's Foreign Ministry.

Zamir Kabulov told TASS, "There are talks on the parameters of such an agreement. On the level of the Eurasian Economic Commission it has been decided already to lower import duties on a number of agricultural goods from Iran, including pistachio nuts, dates and raisins."

The official underlined that Iranian fruit and vegetables have long found their way to the Russian market and now the Agriculture Ministry is working with Iranian partners on expanding the range of mutual deliveries of agricultural products.

"Recently a number of Iranian companies interested in selling meat and dairy products, eggs, poultry and seafood in Russia were approved," Kabulov said.

According to him, Russian companies also receive similar licenses from Iranian authorities.

"The dismantling of anti-Iranian sanctions has opened up new prospects for developing cooperation between our two countries, especially in trade, economic and financial areas. One of our common important tasks is to create conditions for accelerated growth of bilateral trade and investment ties. Over the past year together we have made significant progress in such important areas as simplification of visa regime, promotion and protection of investments, promotion and expansion of the range of goods deliveries, including reduction of import tariffs and the establishment of customs 'green corridor' that allows us to simplify the procedures for mutual deliveries of goods."

As a result, in 2016, the mutual trade turnover increased by 80 percent and amounted to more than $2 billion, Kabulov said.

The EEU includes Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan.

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