A free trade agreement between Iran and the Eurasian Economic Union (EAEU) is expected to come into force within the next two months, according to a board member of Iran-Russia Joint Chamber of Commerce.
Speaking to Iran’s state radio, Kambiz Mirkarimi, said that the free trade agreement is not completed yet and the two sides are granting 50 to 75 percent discounts on tariffs under a preferential trade scheme.
Noting the Iran and the EAEU have exchanged the lists of items for tariff-free trade, he expected that over 88% of the items will be exchanged through a zero-tariff trade.
Karimi added that the free trade scheme will increase the competitiveness of Iranian commodities against similar ones from China, India, and other countries.