Armenian parliament ratifies EAEU-Iran free trade agreement

The Armenian National Assembly ratified the free trade agreement between the Eurasian Economic Union (EAEU) and Iran.

The document was signed in St. Petersburg on December 25, 2023 and is aimed at regulating a wide range of issues of economic cooperation between the parties, significantly expanding the list of goods covered by tariff benefits, as well as qualitatively improving the previous tariff benefits.

The basis for signing the agreement were the provisions stipulated in the interim agreement, which entered into force in 2019. The interim agreement boosted trade turnover between the EAEU member states and Iran from $2.4 billion to $5.2 billion.