BAKU, Azerbaijan, March 19. Iran should accelerate its trade exchanges with other countries, the country’s Deputy Minister of Industry, Mines and Trade, Chairman of the Trade Promotion Organization Mohammad Ali Dehghan Dehnavi told reporters, Trend reports.
According to him, one of the key strategies in this important direction is to move towards free trade, and a successful example of this in the field is Iran’s free trade agreement with the Eurasian Economic Union (EAEU).
He noted that trade volume with this union's member countries surged by 2.5 times after the agreement was put into effect, and this expansion resulted from the removal of trade restrictions and the lowering of tariffs, which not only improved the trade of items subject to tariffs but also encouraged a broader exchange of other goods.
"Currently, Iran is in discussions with more than 10 countries to sign free trade or preferential trade agreements. Some of these discussions are in the final stages, and it is expected that they will be signed and implemented in the near future," he noted.
The deputy minister also stated that expanding the manufacturing
of export-oriented items is one of the key directions for
increasing Iran's commerce and exports.
He went on to say that expanding the production of high-quality and
competitive products is an important aspect in trade development,
and that Iran's exported products should aim to shape the markets
of the nations to which they are exporting with suitable items.
On December 25, 2023, Iran and the EAEU inked a free trade deal in
Saint Petersburg, Russia. After the new agreement goes into effect,
trade turnover is expected to reach $18-20 billion within five to
seven years.
On March 15, 2025, Iranian President Masoud Pezeshkian announced to
various Iranian circles the execution of the Iran-Eurasian Economic
Union free trade deal.
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