TEHRAN – Mir-Hadi Seyedi, Iran’s senior negotiator in free trade agreement (FTA) talks with the Eurasian Economic Union (EAEU), says the FTA deal is expected to be signed by the representatives of the two sides in Tehran in the last days of the current Iranian calendar month Azar (ends on December 21).

According to Seyedi, the deal is going to be signed by the Eurasian Economic Community (EEC)’s minister in charge of economy and financial policy and the head of Iran’s Trade Promotion Organization (TPO).

TPO Head Peyman-Pak said earlier that the list of commodities to be included in the FTA between Iran and EAEU states is expected to be signed in December.

“The export items to be included in free trade between Iran and the EAEU states have been almost decided upon,” he said.

The official said that the FTA is expected to include a zero tariff for 90 percent of commodities exchanged between Iran and the five-member bloc.

The volume of trade between Iran and the EAEU grow from $2.3 billion in 2015 to $5 billion in 2021 mainly due to a preferential trade agreement.

Iran and the EAEU signed an interim free Trade Agreement in mid-March 2018 and they aim to change the temporary agreement into a full-fledged free trade regime.

EF/MA