Page 76 - RusRPTAug22

Iran is set to enter into a full free trade agreement with EEU countries (Russia, Kazakhstan, Armenia, Belarus, Kyrgyzstan) within three months, officials from the Trade Promotion Organisation of Iran (TPOI) reportedly told local media in Tehran on July 20. The EEU-Iran deal has been a long time coming, with a temporary preferential trade deal initially agreed in 2018 between the countries to test the water. The interim agreement entered into force on October 27, 2019. The tariffs levied on the remaining 20% of the goods between the countries would remain unchanged. The text for the agreement was largely finalised, Ahmad Seyedi, the Iranian representative was reported as saying in April. In April, 70 Iranian and 300 Russian companies participated in the Iran-Russia Trade Conference held in Moscow. Delegates included cement, information technology, aquaculture, food, footwear, clothing, bags, medical equipment, pharmaceuticals, petrochemicals and academia. Trade between the two spiked before the war in Ukraine even started, with Russia realising the change in direction was needed. Bilateral trade between Iran and Russia is expected to increase by at least double over the next year. Further, Iranian land, sea ports and railways being used as transit points for Russian goods to India, Africa and to South America for animal feed.
76 RUSSIA Country Report October 2020 www.intellinews.com