Consultations with Iran on free trade area with the EEU will start in June

Almaty. May 25. Silkroadnews – This June the Eurasian Economic Commission (EEC) wants to start consultations with Iran on free trade area (FTA) with the Eurasian Economic Union (EEU), Eurasian Economic Commission Trade Minister Veronika Nikishina said.

“These are informal talks. We start such consultations in June – at the beginning of June. Now we form our request position and look forward to receive Iran’s position on the products of export interest,” KazTAG quotes V. Nikishina saying to the journalists on the sidelines of the Astana Economic Forum on Wednesday.

“As a part of cooperation with Iran, we see the first step to eliminate the existing tariff and non-tariff barriers to trade through the free trade agreements to be made. Yet, of course, the decision on free trade area has not been made so far. Such decisions are normally made on the results of the survey by the joint research group, reports submitted to the presidents and then, in case the work carried out shall bring the serious benefits, we get a mandate to negotiate,” V. Nikishina explained.

According to her, it will allow reducing tariffs on a number of goods in mutual trade.

“[The decision was taken - KazTAG] to start informal talks on a possible signing of a temporary free trade zone agreement, which will precede a comprehensive and all-inclusive agreement, but will benefit us in terms of reducing duties…”, the minister said.

To remind at present the EEU member countries are Kazakhstan, Russia, Belarus, Kyrgyzstan and Armenia.