INSUBCONTINENT EXCLUSIVE:
TEHRAN - Armenian Prime minister Nikol Pashinyan has said Yerevan welcomes the finalization of a free trade agreement between Iran and the
Eurasian Economic Union (EAEU), IRNA reported.Pashinyan made the remarks at the first meeting of the Supreme Eurasian Economic Council which
was held in Bishkek on Friday."I consider it important to draw attention to Armenia's interest in concluding a full-fledged free trade
agreement between Iran and the EAEU
The experience of the functioning of the interim agreement with Tehran clearly shows the attractiveness of the Iranian market and the
prospects for further deepening cooperation..
We also want to start negotiations on concluding an agreement between the Union and Indonesia," Pashinyan said.The official noted that the
union attaches importance to utilizing international treaties in order to minimize the challenges and menaces of unprecedented economic
crises, which happened in recent months.After several years of negotiations, Iran and EAEU finally reached a preferential trade agreement in
2018 based on which about 862 commodity items are subject to preferential tariffs
The PTA came into effect on October 27, 2019.Iran and the EAEU have listed 862 types of commodities in their three-year provisional trade
As per the deal, Iran will enjoy easier export terms and lower customs duties on 502 items, and the same go for 360 items from the EAEU
member countries.Since the preferential trade agreement is to expire in October this year, the two sides are negotiating to upgrade the
preferential trade agreement to a free trade agreement by the end of 2022.EF/MG
