ASTANA, Kazakhstan, March 31. Kazakhstan will
strengthen its position in agricultural markets and benefit from
the EAEU-Iran free trade agreement, stated the Eurasian Economic
Commission, Trend
reports.
The Eurasian Economic Commission (EEC) noted that this agreement
will allow up to three million tons of wheat per year without
export duties and 1.5 million tons of barley without additional
costs.
"For Kazakhstan, this is not just an expansion of access to the
Iranian market but also a strategic opportunity to strengthen its
position in agricultural exports. The agreement reduces logistical
and tariff barriers, which is especially important amid global
changes in trade chains," underscored the EEC.
The execution of the free trade accord is poised to catalyze a
synergistic increase in bilateral trade volume, potentially
reaching an unprecedented $12 billion in the imminent horizon. This
indicates approximately a bifurcated escalation relative to
existing throughput metrics.
The bilateral trade accord established between the EAEU member
states and Iran facilitates the elimination of import tariffs on
over 85 percent of commodities, encompassing grains.
Iran will also abolish customs duties on corn, buckwheat, chocolate, sunflower oil, steel, fertilizers, and agricultural machinery. This free trade agreement will come into effect on May 15, 2025.