Iran expects assistance from Armenia in unimpeded entrance to EEU market

ArmInfo. Iran's Ambassador to  Armenia Seyed Kazem Sadjadi considers that Armenia as Iran's nearest  neighbor should assist Iran in entering the market of Eurasian  Economic Union (EEU), he told this journalists on the sidelines of  the Economic Forum "Armenia as a Bridge to Large Markets" on  September 20.

According to him the Iranian side expects that its nearest neighbor  Armenia, which is a part of the Union, will assist in raising the  role of Iran in EEU and overcoming obstacles for its entry into the  market. At the same time the Ambassador recalled about Iran's  attractiveness for economic cooperation with its 80 mln population  and developed economy. "Political relations between Armenia and Iran  are on quite a high level", the Iran's Ambassador to Armenia noted  adding that in case difficulties in the field of taxation,  particularly customs duties are overcome, deepening of cooperation in  construction field and agriculture will become possible. In this  context Seyed Kazem Sadjadi especially emphasized the importance of  cooperation in the North-South corridor construction project. 

"Representatives of the Eurasian Economic Commission (EEU's executive  body) are already holding preliminary negotiations with Iranian  partners to reach temporary agreement on free trade", Minister of EEC  in charge of Trade Veronika Nikishina told journalists. The Minister  explained that till the end of the year all the possible benefits of  establishing such a regime, all the possible obligations and terms  will be studied and the results will be presented to the 5 presidents  of EEU for making final decision. "We will either receive mandate on  launching negotiations and signing agreement next year, or we will be  advised to study further. But we hope that the mandate will be given  due to active work with our Iranian partners", Nikishina stated. She  noted that the most important condition for getting mandate is  mutually beneficial agreements. "We are ready for free trade of  Iranian goods but the EEU countries have stipulated a condition to  provide similar terms for the Union's products on the Iranian market.  I am sure we will get the mandate if we manage to agree on mutually  beneficial terms of opening the markets", the Minister stated  informing that the next round of negotiations is scheduled for early  October. 

According to the data of National Statistical Service of Armenia in  the first half of 2016 foreign trade turnover between Armenia and  Iran declined by 16.4% to $113.5 mln, which was determined by drop of  import by 19.2% to $75.7 mln and decline of export by 10.3% to $37.8  mln. According to official data, foreign trade turnover of EEU in the  first half of 2016 totaled $228.6 bln (export-$140.5 bln and import-  $88.1 bln). Foreign trade turnover declined by 23% compared to the  same period of last year. Export dropped by 29.3% and import by  10.3%. Domestic turnover within EEU dropped by 17% in the first half  of 2016 compared to the same period of last year and totaled $19 bln.