TEHRAN (Iran News) – Iranian Ambassador to Moscow Kazzem Jalali said that the preferential trade agreement (PTA), signed between Iran and Eurasia Economic Union (EEU), will benefit regional peace.
Jalali said on Tuesday in a videoconference with EEU officials that the volume of trade between Iran and the EEU increased to 2.417 billion in the seven months after implementing the agreement, reported Fars News Agency.
Jalali said that 72 percent of the trade volume arises from the EEU’s exports to Iran.
Iran and the EEU started implementing the agreement on preferential trade on 862 products as of October 27, 2019.
“The mentioned agreement is the beginning of doing free trade and business with Eurasia; the preliminaries of free trade with the Eurasian zone are provided one year after the implementation of this trade agreement,” the head of Trade Promotion Organization of Iran (TPOI), Hamid Zadboum, told Fars News Agency.
The PTA agreement consists of 862 products, 360 of which have been exported by Iran to Eurasia, and 502 exported by Eurasia to Iran.