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Iran and Eurasian Economic Union failed to agree on free trade zone

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Iran and Eurasian Economic Union failed to agree on free trade zone

An interim agreement on a free trade zone between Iran and the Eurasian Economic Union (the EEU) has not been signed yet, the first Vice Prime Minister of Russia, Igor Shuvalov, told reporters on Friday following a session of the Supreme Eurasian Economic Council.

Igor Shuvalov also noted that the EEU member states were not satisfied with Iran’s response.

“No, (the agreement – editor’s note) is not signed. But it is necessary to work, because the countries are not satisfied with the answer from Iran’s party,” he told reporters answering a question of whether the agreement between the EEU and Iran was concluded.

As a reference, the Eurasian Economic Union is an economic union of states located primarily in northern Eurasia and includes Armenia, Belarus, Kyrgyzstan, Kazakhstan and Russia.

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