Working group set up to draft free trade agreement between EEU and Iran

At the initiative of Armenia, the Eurasian Economic Union (EEU) has adopted a decision to set up a working group to draft a free trade agreement (FTA) with Iran, Shavarsh Kocharyan, Armenia’s deputy foreign minister, told reporters on September 10.

Armenia appealed to the Eurasian Economic Commission with a letter three months ago and suggested launching a process of development of a preferential trade regime between the EEU and Iran. “Eventually, a decision has been made to set up a working group. The Commission will start studying the markets, possibilities and risks shortly,” Kocharyan said.

To recall, in May a similar agreement was signed between the EEU and Vietnam. The FTA binds the signatories to facilitate access of goods of the signatory-countries to their markets.