EAEU–Iran Full Free Trade Agreement Enters Into Force
The full Free Trade Agreement (FTA) between the Eurasian Economic Union (EAEU) and Iran entered into force on May 15, replacing the interim deal in place since 2019, according to the Eurasian Economic Commission.
The new FTA significantly expands commodity coverage and reduces average import duties on EAEU exports to Iran from 20% to 4.5%. It now applies to 90% of traded goods and includes enhanced regulatory provisions aimed at eliminating trade barriers.
“The parties have already started organizing the first meeting of the Joint Committee, scheduled for the second half of 2025, during which it is planned to discuss specific issues of further development of trade and economic cooperation between the EAEU and Iran,” said EEC Minister in charge of Trade Andrey Slepnev.
Experts forecast that the agreement could boost bilateral trade to $12 billion in the medium term.
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