BAKU, Azerbaijan, March 4. Iran will establish a large trading center in Russia to directly deliver Iranian products to consumers, Deputy Minister of Industry, Mines and Trade of Iran, Chairman of the Trade Promotion Organization Mohammad Ali Dehghan Dehnavi told reporters, Trend reports.
According to him, Iran will take this step to develop trade and economic relations with the member countries of the Eurasian Economic Union (EAEU).
Dehnavi mentioned that after the signing of the free trade agreement between Iran and the EAEU, the Trade Development Organization of Iran aims to increase the presence of Iranian products outside the country.
The deputy minister pointed out that, with the signing of the free trade agreement between Iran and the EAEU, Iran has gained access to the markets of five Eurasian countries with a total trade volume of $850-$900 billion.
"The signing of this agreement is an absolutely appropriate step toward mitigating the negative effects of sanctions imposed on Iran. This agreement makes it possible to remove some of the restrictions arising from sanctions against the country," he said.
On December 22, 2024, the Iranian parliament ratified the free trade agreement between Iran and the EAEU. The agreement is expected to take effect by the end of March or in April.
Furthermore, on December 25, 2023, a free trade agreement was signed between Iran and the EAEU in Saint Petersburg, Russia. After the agreement comes into force, it's predicted that trade turnover will reach $18-20 billion within five to seven years.
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