Tuesday, October 1 2024 20:56

ArmInfo. With a trade potential of $80 billion with the EAEU countries, significant oil and gas reserves, transit advantages, opportunities in technology, engineering, and human resources, Iran is ready to play a more  significant role in the EAEU. This was stated by Iran's First Vice President Mohammad Reza Aref during his speech at a meeting of the Eurasian Intergovernmental Council.

<In this regard, we hope that preconditions will be created for  granting Iran observer status in the EAEU in the shortest possible  time>, he said.

Mohammad Reza Aref noted that Iran took the first step towards  strengthening cooperation with the EAEU last year by signing a free  trade agreement. <We expect that this will contribute to the  development of trade cooperation with the EAEU countries>,  the Vice  President noted.  The next step, according to him, was an application  for membership as an observer in the EAEU. In this regard, he  expressed readiness on behalf of the state to develop all mechanisms  of cooperation with the EAEU, and to play a more significant role in  using its own potential to implement these tasks.

<The presence of a total GDP at the level of $2.4 trillion and  foreign trade at the level of $80 billion per year, along with a  progressive tariff structure within the Union create favorable  conditions for the emergence of a powerful economic bloc of states at  the international level. It is necessary to carefully address areas  where the participating countries can complement each other, as  needed, and create value chains in various areas, from agriculture to  industrial production>, he emphasized.  Note that according to the  Statistical Committee of the Republic of Armenia, the trade turnover  between Armenia and Iran from January to July of this year was $388.8  million, with an annual decline of 2%. At the same time, exports  totaled $63.2 million, marking a 4.7% annual increase, while imports  decreased by 3.2%, to $325.7 million.