Baku, Azerbaijan, May 17
By Khalid Kazimov - Trend:
Iran, Russia and India are planning to organize a customs union, an Iranian official with Customs Administration said. Masoud Karbasian, the head of Iran's Customs Administration, has said that traders from Iran, Russia and India will enjoy considerable advantages after forming the customs union, IRNA news agency reported.
He also added that the new customs union will pave the way for Iran to join the Eurasian Economic Union. Karbasian also suggested that Azerbaijan also considers joining the customs union. According to its website, the Eurasian Economic Union is an international organization for regional economic integration.
The EAEU provides for free movement of goods, services, capital and labor, pursues coordinated, harmonized and single policy in the sectors determined by the Treaty and international agreements within the Union.
The Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation are among the Member-States of the Eurasian Economic Union. Sanctions imposed by the EU on Russia and the escalation of ties between Ankara and Moscow have created a proper chance for Iranian merchants to export products to Russia.
The volume of trade ties between Tehran and Moscow currently mounts to $2 billion. However, the figure is projected to reach $10 billion.