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The Eurasian Economic Union and the Islamic Republic of Iran sign free trade agreement

RUSSIA, December 25 - Joint photo session at the ceremony for signing the free trade agreement between the Eurasian Economic Union and the Islamic Republic of Iran

A ceremony for signing the free trade agreement between the Eurasian Economic Union and its member states on the one hand, and the Islamic Republic of Iran, on the other, took place on the sidelines of the Supreme Eurasian Economic Council in St Petersburg.

The document was signed by Deputy Prime Minister of the Republic of Armenia Mger Grigoryan, Deputy Prime Minister of the Republic of Belarus Igor Petrishenko, Deputy Prime Minister of the Republic of Kazakhstan Serik Zhumangarin, First Deputy Prime Minister of the Kyrgyz Republic Adylbek Kasymaliyev, Deputy Prime Minister of the Russian Federation Alexei Overchuk, Chairman of the Eurasian Economic Commission Board Mikhail Myasnikovich, and Minister of Industry, Mine and Trade of the Islamic Republic of Iran Abbas Aliabadi.

“We signed a free trade agreement that logically continues our great effort in the past few years since the signing of the temporary free trade agreement. During that time, trade between the EAEU states and the Islamic Republic of Iran has grown by three times. We came to the mutual understanding that we had reached a level that required a full-format agreement on opening the markets of the EAEU Five and the Islamic Republic of Iran. We did this today. The Islamic Republic of Iran can access a market of 190 million people. Our five countries have gained the possibility of exporting goods to a market of about 86–87 million people. These are great opportunities for further developing and promoting the economies of the Five,” said Alexei Overchuk following the agreement-signing ceremony.