ArmInfo. On May 15, 2025, the full-fledged Free Trade Agreement between the Eurasian Economic Union and its member states, on the one hand, and the Islamic Republic of Iran, on the other hand, entered into force. This was reported by the press service of the Eurasian Economic Commission.
The document, as the source notes, will replace the temporary agreement with limited product coverage, which has been in effect since 2019, and will create unique conditions for access to the Iranian market for manufacturers from the EAEU countries. Thus, the average rate of import customs duty on goods supplied from the Union to Iran will decrease from 20% to 4.5%. "As part of the implementation of the full-scale agreement, the parties have already begun organizing the first meeting of the Joint Committee, scheduled for the second half of 2025, during which it is planned to discuss specific issues of further development of trade and economic cooperation between the Eurasian Economic Union and the Islamic Republic of Iran," said Andrey Slepnev, Minister for Trade of the Eurasian Economic Commission.
The new agreement enshrines the mutual obligations of the EAEU and Iran on preferential access for 90% of the entire product range. Compared to the temporary agreement, the full-scale agreement has significantly improved the regulatory part aimed at creating a barrier-free trade space between the parties. According to experts, its implementation will significantly increase trade turnover between the EAEU and Iran, which in the medium term could reach $12 billion.
