EAEU trade with Iran becomes duty-free

The full-format Free Trade Agreement between the Eurasian Economic Union (EAEU) and Iran came into force on May 15, the Russian Export Center reports.

“With the implementation of the free trade agreement, almost all goods produced in Russia will have unique access conditions to the Iranian market. The agreement opens new opportunities for trade expansion, joint projects, and development of trade and economic cooperation,” the statement reads.

Additionally, the agreement eliminates import duties and ensures that no quantitative restrictions will be applied to imports. It also facilitates and accelerates customs procedures, establishes clear and predictable rules for technical regulations, and enhances measures related to sanitation, veterinary, phytosanitary, and anti-dumping policies.