TEHRAN – Head of the Islamic Republic of Iran Customs Administration (IRICA) Office of International Affairs and Public Relations has said the country is ready to implement a much-negotiated Free Trade Agreement (FTA) with the Eurasian Economic Union (EAEU).

Addressing the second Eurasian Economic Forum in Russia on Wednesday, Omid Golzari said: “In 2018, the Islamic Republic of Iran signed a temporary agreement to establish a free trade zone with the Eurasian Economic Union, and after four years of successful experiences in the field of foreign trade with this union, the country is ready for free trade with EAEU members.”

As IRIB reported, Golzari expressed hope that future agreements between Iran and the Eurasian Union in this field will lead to more cooperation in the direction of developing trade exchanges.

Referring to the negotiations between IRICA and the customs authorities of the Eurasian Economic Union regarding the mechanism of electronic exchange of information and educational cooperation between the two sides, he said: “Today, considering the very close cooperation between the customs of the two sides, we are experiencing very few problems regarding customs affairs.”

“We believe that by developing customs cooperation mechanisms similar to those among the members of the Shanghai Cooperation Organization (SCO) and BRICS, we will witness the development of trade and transit among the EAEU members as well,” he added.

Mentioning a recent visit of the customs officials of the Russian Federation along with the country’s Deputy Prime Minister to Tehran, he noted that during this visit a deal was signed between the two sides for the completion of the International North-South Transit Corridor passing through Iran.

“The North-South Corridor will become one of the golden routes for developing transit and saving time and money for traders, especially by connecting other EAEU members with the markets of Russia and the Caucasus region,” he stressed.

In the last two and a half years, more than 30 rounds of negotiations have been held between Iran and the representatives of five member countries of the Eurasian Union for finalizing an FTA.

Back in January, the former head of Iran’s Trade Promotion Organization (TPO) said the long-awaited FTA is going to be put in effect by mid-Iranian calendar year 1402 (late September).

Alireza Peyman-Pak made the remarks after a meeting with the Minister in charge of Trade of the Eurasian Economic Commission Andrey Slepnev in Tehran.

Iran and the EAEU have already signed a preferential trade agreement (PTA) based on which about 862 commodity items are currently subject to preferential tariffs.

The agreement which was signed in 2018, came into effect on October 27, 2019.

EF/MA