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Kazakhstan to gain from the EAEU-Iran free trade arrangement

Economy Materials 31 March 2025 08:01 (UTC +04:00)
Kazakhstan to gain from the EAEU-Iran free trade arrangement
Madina Usmanova
Madina Usmanova
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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.

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