Iran approves trade agreement with Eurasian Economic Union
Date
12/26/2024 8:12:40 AM
(MENAFN) The Deputy Head of Iran’s Trade Promotion Organization (TPO) emphasized the importance of trade agreements, specifically the Iran-Eurasian Economic Union (EAEU) free trade agreement, in advancing the country’s export infrastructure. Mohammad Sadegh Qanadzadeh highlighted that the Iranian Parliament has approved the agreement, and it is now awaiting confirmation from the Guardian Council. He noted that once ratified, the agreement would come into effect two months later.
Qanadzadeh further explained that Kazakhstan’s Parliament had finalized the agreement last week, and all member states of the EAEU—Russia, Kyrgyzstan, Kazakhstan, Armenia, and Belarus—had fulfilled their commitments. He expressed optimism that the upcoming Eurasian summit in Saint Petersburg would mark the operational launch of the agreement, signaling a significant step forward.
Once all member states have ratified the agreement, a two-month period will follow before its implementation. During this window, Iran will work to prepare the necessary infrastructure, improve coordination, and standardize procedures for smoother integration into the trade framework.
The deputy head of TPO also stressed the importance of developing export infrastructure, including logistics, customs, and standards, to fully benefit from the agreement. He pointed out that trade agreements should not be delayed because of incomplete infrastructure, as they play a crucial role in driving progress and addressing existing gaps.
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