Value of Iran-EAEU Trade to Reach $10 Billion: IRICA

lydian fall · Apr 29, 2023

Value of Iran-EAEU Trade to Reach $10 Billion: IRICA

April, 29, 2023 - 11:05
Economy news

TEHRAN (Tasnim) – President of the Islamic Republic of Iran Customs Administration (IRICA) said that the value of the trade between Iran and Eurasian Economic Union (EAEU) member states will hit $10 billion after a new agreement is signed between the two sides.

Speaking in a joint meeting with the EAEU’s Minister in Charge of Customs Cooperation Eldar Alisherov in Tehran on Saturday, Mohammad Rezvanifar stated that the EAEU, as one of the successful treaties in the region, has played a leading role in the economic development of the member states.
A cooperation agreement will be concluded between the IRICA and the EAEU, he said, adding that it is one of the most important agreements inked between the two sides within the framework of the regional economic cooperation.
Once the agreement is finalized by the Iranian Parliament, “We will witness the considerable growth of foreign trade level with the Eurasian Economic Union,” he added.
During the visit by Alisherov to Iran aimed at promoting the level of bilateral cooperation, the two sides will negotiate on a host of issues including documents for the electronic exchange of information, North-South Corridor, etc, he said.
Rezvanifar added that the value of Iran-EAEU trade will hit $10 billion once a new agreement under Free Trade Agreement (FTA) is signed between the two sides.