Official confirms Iran poised to become significant partner of EAEU
Date
12/29/2024 2:43:25 AM
(MENAFN) Iran is poised to become a significant partner of the Eurasian Economic Union (EAEU), following a recent decision by the union’s member states to grant the country observer status. Jalaleddin Alavi Sabzevari, Director of Multilateral and International Economic Cooperation at Iran’s Foreign Ministry, confirmed the development on Friday. The decision was made during a summit held in Saint Petersburg, Russia, where the heads of state of the EAEU member countries approved the move.
This new status is expected to enhance Iran’s position within the EAEU, especially as the free trade agreement between Iran and the union is set to come into effect soon. The agreement has already been ratified by the parliaments of the five EAEU member states—Russia, Kazakhstan, Belarus, Armenia, and Kyrgyzstan—as well as by Iran's own Parliament. Once in effect, the free trade agreement will facilitate deeper economic ties between Iran and the EAEU, bolstering Iran’s role as an important partner in the region.
In addition to Iran, Uzbekistan, Moldova, and Cuba hold observer status in the EAEU, which strengthens the union's broader international connections. The inclusion of Iran as an observer marks a significant milestone in the country’s efforts to enhance its economic and political ties with the region, signaling a move toward greater integration within the EAEU framework.
The EAEU’s decision to grant observer status to Iran also highlights the growing importance of the bloc as a regional economic powerhouse. With Iran’s strategic position in the Middle East and its significant energy resources, the partnership is expected to contribute positively to the EAEU’s economic and geopolitical influence.
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