EAEU to Study Free Trade Zone Agreements with Iran, South Korea
TEHRAN (Tasnim) – The Eurasian Economic Union (EAEU) will study an opportunity to sign a free trade zone agreement with Iran and South Korea, according to the data of the EAEU.
The board of EAEU will study this issue (agreement with Tehran and Seoul) at its meeting on August 18, 2015.
The board will also study an opportunity to sign a memorandum on cooperation with Mercosur (the Southern Common Market - comprising Argentina, Brazil, Paraguay and Venezuela), the Tass news agency reported.
In May, EAEU signed an agreement on a free trade zone with Vietnam, which became the first agreement facilitating a trade regime after the establishment of the EAEU in 2015.
Earlier in April, Chairman of the EAEU Board Viktor Khristenko had referred to Iran as an important partner for all the EEU member states. "Cooperation between the EAEU and Iran is an important area of our work in strengthening the economic stability of the region," he said.
The Eurasian Economic Union (EAEU or EEU) is an economic union of states located primarily in northern Eurasia. A treaty aiming for the establishment of the EEU was signed on May 29, 2014 by the leaders of Belarus, Kazakhstan and Russia, and came into force on January 1, 2015.
Agreements to enlarge the EAEU to Armenia and Kyrgyzstan were signed on October 9 and December 9, 2014, respectively.
