Russia State Duma Ratifies Launch of FTA between EAEU, Iran

Russia State Duma Ratifies Launch of FTA between EAEU, Iran

TEHRAN (Tasnim) – Russia’s State Duma ratified the implementation of a free trade agreement (FTA) between the Eurasian Economic Union (EAEU) and Iran.

– Economy news –

The FTA was signed between EAEU member states and Iran in St. Petersburg on December 25, 2023.

It was then submitted by the Russian government to the State Duma for final approval.

This agreement includes the details and way of trade between Iran and member states of the EAEU which is consistent with the laws of the World Trade Organization (WTO).

Apart from the WTO’s standards as envisioned in this agreement, the trade laws between EAEU member states have also been included in the agreement, IRIB news reported.

This agreement includes the cooperation of the two sides in mining and mineral activities, using the mineral resources, improving energy productivity, research and innovation, training, pharmaceutical, telecommunication, and transport infrastructural fields, as well as transport corridors.

The Russian government says the implementation of the free trade agreement will lead to the development of cooperation with Iran in different trade and economic sectors.

Source: Tasnim News