TEHRAN- Russian First Deputy Prime Minister Igor Shuvalov will be in Tehran on February 21 to negotiate the creation of a free trade zone (FTZ) between Iran and the Eurasian Economic Union (EAEU).

Shuvalov will hold meetings with Iran’s industry minister Mohammadreza Nematzadeh and communications minister Mahmoud Vaezi to explore opportunities for expanding economic ties between Iran and Russia as well, IRNA reported.

On February 13, the Iranian ambassador to Moscow Mehdi Sanaei said Iran and Russia expect five economic events to take place in Tehran by March 20 (end of the current Iranian calendar year), to improve their bilateral ties.

Russian Energy Minister Alexander Novak will pay a visit to Tehran to discuss some issues with Iranian Oil Minister Bijan Namdar Zanganeh, he said at the time.

As he added, Russian Deputy Prime Minister Dmitry Rogozin will also visit Tehran, leading a delegation, to meet the Iranian vice president for science and technology Sorena Sattari and the defense minister Hossein Dehqan.

The Eurasian Economic Union's Minister of Trade Veronika Nikishina is also scheduled to travel to Tehran by March 20, according to the Iranian ambassador.

EAEU is an economic union of states located primarily in northern Eurasia. A treaty aiming for the establishment of the EAEU was signed on 29 May 2014 by the leaders of Belarus, Kazakhstan and Russia, and came into force on 1 January 2015. Treaties aiming for Armenia's and Kyrgyzstan's accession to the union were signed on 9 October and 23 December 2014, respectively. Armenia's accession treaty came into force on 2 January 2015. Kyrgyzstan's accession treaty came into effect on 6 August 2015.

HJ/MA/MG