Iran and EEU may establish free trade zone

ArmInfo. Chairman of the Collegium of the Eurasian Economic Commission Tigran Sargsyan discussed with Iran's Ambassador to Russia Mehdi Sanai timely issues of creating a zone of free trade between Iran and the states of the Eurasian Economic Union (EEU).

Tigran Sargsyan thanked Mehdi Sanai for the opportunity to discuss areas of trade cooperation and noted that the issue of establishing a free trade zone remains today the crucial aspect of constructive dialog between the EEU and Iran.

According to the Chairman of the EEC Collegium Iran is among the countries, which have priority importance for the EEC in the context of creating free trade zone. At the same time the Presidents of the Union's countries have repeatedly stated for deepening relations between the EEU and Iran.

"We think that our relations have serious potential for boosting economic growth", the Chairman of the EEC Collegium said.

Mehdi Sanai in turn stressed the seriousness of Iran's intention to establish a free trade zone with the Union's countries and confirmed the state's readiness to maximally speed up this process.

Iran supports good trade economic relations with all the countries of the EEU. That is why we have all the reasons for establishing efficient cooperation, the Iranian Ambassador to Russia stated.

At the end of the meeting the sides supported Mehdi Sanai's proposal to organize a conference in Iran with participation of scientific and business circles of Iran for presenting the activities of the Eurasian Economic Commission and the EEU and the prospects of economic cooperation between Iran and the Union's states.

The Eurasian Economic Commission is the permanent regulatory body of the Eurasian Economic Union (EEU). It started work on February 2, 2012. The main purpose of the Eurasian Economic Commission is ensuring the functioning and development of the EEU, and developing proposals for the further development of integration. Currently there are five EEC countries: The Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation. The EEC has supranational regulatory body status and its activity is guided by the interests of the participating countries of the Eurasian Economic integration project in general, not motivating its decisions by any interests of national Governments. Decisions of the Commission are obligatory for execution on the territory of the EEU Member States. The basis of the decision to establish the EEC lies in the understanding that the five countries together will not only be able reduce the negative impacts of global instability, but also actively position themselves in foreign markets. The Eurasian Economic Union is open to other States that share the goals of this Association and are ready to assume the required obligations.