EAEU–Iran Trade and Its Prospects
... partners, the Iranian economy is second only to Russia’s. In terms of economic cooperation, Russia and Kazakhstan stand to benefit most from lowering tariff barriers. In addition, the project is of particular interest to Armenia, which is the only EAEU member that has a land border with Iran—currently under a partial blockade. Armenia could thus be used as a transit country for Iranian imports and exports. A free-trade agreement with Tehran would also do wonders for Moscow’s integration policy. FTA Experience The interim agreement on establishing a free trade area between the EAEU and Iran entered into force on October 27, 2019 and provided for a reduction in customs duties on 862 categories of goods (502 for Iranian exports and 360 for EAEU ...