Free trade agreement between Iran and EAEU grants Armenian producers beneficial access to Iranian market

The trade bloc of the Eurasian Economic Commission (EEC) spoke to Alpha News about how Armenia’s trade with Iran has been affected by the entry into force of the free trade agreement between the Eurasian Economic Union (EAEU) and Iran.

“The comprehensive free trade agreement between the EAEU and Iran only came into force in mid-May of this year, so it is still too early to assess the effects and results of the agreement, as businesses are only beginning to test the new opportunities of the trade regime.

However, positive shifts in trade between Armenia and Iran are already visible. Trade data show a monthly growth of Armenian exports to the Iranian market of around 8% since the agreement entered into force. We hope that this positive trend will only strengthen as adaptation to the new trade conditions progresses.

At the same time, we would like to note that during negotiations Armenian producers obtained beneficial access to the Iranian market for products such as cigarettes, chocolate, wafers, lamb, mutton, as well as ice cream and jams.

In the industrial goods group, conditions were liberalized for the supply of electricity, used batteries, and mineral products.

We assume that these goods will become new ‘growth points’ for Armenian exports to the Iranian market alongside other export products of Armenia’s economy,” the statement said.