News ID: 239120
Published: 0416 GMT February 19, 2019

Iran's joining Eurasian market, a giant task in sanctions period: Minister

Iran's joining Eurasian market, a giant task in sanctions period: Minister

Joining the Eurasian market under current circumstances in which Iran faces tough sanctions is a giant task, said Iran's energy minister.

Reza Ardakanian, who was speaking on Tuesday in a meeting with private sector activists in the water and power industry at the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), further noted that joining the Eurasian market requires cooperation between the Ministry of Energy and ICCIMA, reported Mehr News Agency.

He added that a collective, purposeful and predefined program is needed for presence in regional markets.

Preliminary steps for Iran's membership in Eurasian Economic Union (EEU) have been taken, he said, adding, "A single-urgency bill has been submitted to the Parliament in this regard and we hope that it would be approved prior to budget bill for the next fiscal year."

Noting that sanctions have cast a shadow over the national economy, he added, "Cooperation between public and private sectors can significantly boost the economy."

Eurasian Economic Union (EEC) initiated its work in 2015 with the signing of Belarus, Kazakhstan and Russia. Kyrgyzstan and Armenia joined the union after a short period.

Islamic Republic of Iran signed a cooperation agreement in May 2018 to set up a free trade zone with this union.

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