Russia supports extension of free trade agreement between EAEU and Iran

TASS Russian News Agency | May 27, 2022 at 3:43 PM

/Update/

MOSCOW, May 27. /TASS/. Russia supports the initiative of extending the temporary free trade agreement between the Eurasian Economic Union (EAEU) and Iran, President Vladimir Putin said on Friday at the meeting of the Supreme Eurasian Economic Council.

Talks are proactively underway at present to enter into a full-fledged free trade agreement, including with Iran, which is designed to replace the effective temporary agreement. Its implementation "has notably influenced" on the trade turnover between the EAEU and Iran, the Russian leader said. The trade turnover surged by 73.5% to $5 bln as of the end of 2021 and EAEU exports increased by 2.1 times to $3.4 bln, he added.

"To keep the current preferential regime of trade with Iran, we support the decision to extend the temporary agreement before entering into the new free trade agreement," the Russian President said.

Putin also considers necessary to more actively hold negotiations of entering into the free trade agreement between the EAEU and Egypt, starts similar talks with Indonesia and study the issue of entering into the preferential trade agreement with the UAE.