News ID: 209638
Published: 0322 GMT February 07, 2018

Iran, EEU to sign FTA in 2018

Iran, EEU to sign FTA in 2018

Eurasian Economic Union and Iran will sign a free-trade agreement in 2018, said Iranian Ambassador to Russia.

According to RIA Novosti, Mehdi Sanai further said, "Negotiations with the EEU are proceeding well. Iran's Ministry of Industry, Mine and Trade is negotiating, and they are satisfied. I very much hope that we will see the signing of this agreement in 2018."

He added that Tehran hopes to sign partnership deals with Russian oil and gas companies. Rosneft and Gazprom have particularly had good cooperation in the field, he pointed out.

"The 2017 was a good year from the perspective of bilateral contacts in the energy sphere. We can record substantial progress. Mutual understanding between Russian oil and gas companies and Iranian Oil Ministry was achieved," the envoy said.

He noted that six large Russian companies have memorandums of understanding and some have already presented the outcomes of their studies on the projects.

"We hope that such progress will lead to the signing of contracts in 2018. The companies are conducting feasibility studies on oilfields whereas other companies are closer to signing. Rosneft, for example, has made good progress while Gazprom is in serious talks on LNG projects and Zarubezhneft has signed a preliminary contract," Sanai added.

Gazprom Oil and Lukoil and are also among Russian companies that have had 'good cooperation' with Tehran, he noted.

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