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Armenia official: Iran-EAEU free-trade zone creation first phase in progress

YEREVAN. – The document is the first phase in the creation of a free-trade zone between the Eurasian Economic Union (EAEU) and Iran.

The Deputy Minister of Economic Development and Investments of Armenia, Albert Babayan, stated about the aforesaid at Tuesday’s National Assembly session, and during the debates on the matter of ratification of a temporary agreement between the EAEU and Iran.

Babayan noted that the temporary agreement has been signed for three years, during which the parties shall develop a more complete agreement on a free-trade zone between them.

“In order to ensure the most favorable regime, the agreement envisions transparency in horizontal obligations, national regimes, export and import of goods between the parties, as well as ensuring the World Trade Organization norms when applying protective measures in general trade,” Babayan explained.

The Eurasian Economic Union comprises Armenia, Russia, Belarus, Kazakhstan, and Kyrgyzstan.


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