BAKU, Azerbaijan, March 4. A secretariat for the Iran-Eurasia Free Trade Agreement has been currently established in Iran's Tehran, 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, the structure of this secretariat is currently in the process of being formed. This secretariat will be Iran's representative office in the Eurasian Economic Union (EAEU).
Dehnavi added that Iran, as an observer member of the Eurasian Economic Union, is taking steps to establish full trade relations with this union.
The deputy minister pointed out that most of the countries with which Iran has trade relations currently have 10 or 20 trade attachés. However, Iran has only one trade attaché in those countries. Iran should try to develop the structure in this direction.
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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