Iran Prepares to Link Eurasian Economic Union to Key Markets
Iran Prepares to Link Eurasian Economic Union to Key Markets

Iran Prepares to Link Eurasian Economic Union to Key Markets TEHRAN (Iran News) TEHRAN – Minister of Industry, Mining, and Trade, Seyed Mohammad Atabak, announced Iran’s readiness to facilitate the Eurasian Economic Union’s (EAEU) connection to strategic global markets. His remarks came during the EAEU summit in St. Petersburg, Russia, where he highlighted the approval of […]

Iran Prepares to Link Eurasian Economic Union to Key Markets

TEHRAN (Iran News) TEHRAN – Minister of Industry, Mining, and Trade, Seyed Mohammad Atabak, announced Iran’s readiness to facilitate the Eurasian Economic Union’s (EAEU) connection to strategic global markets. His remarks came during the EAEU summit in St. Petersburg, Russia, where he highlighted the approval of a free trade agreement between Iran and the five EAEU member states, marking a significant step in economic cooperation.

Atabak expressed optimism that the establishment of a free trade zone between Iran and the EAEU members—Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia—would herald a new era of trade exchanges. He also underscored Iran’s willingness to expand collaboration into other critical sectors such as transportation, transit, and energy security.

Welcoming the EAEU’s decision to grant Iran observer status, Atabak affirmed that the summit could be a pivotal moment in Tehran’s growing relations with the union. He emphasized Iran’s resilience despite decades of sanctions, positioning itself as a reliable and influential partner in multilateral frameworks.

Highlighting successful cooperation with the EAEU over the past five years under a preferential trade agreement, Atabak noted the importance of such partnerships in countering the negative impacts of unilateral policies. He described U.S. unilateralism as a significant threat to both individual and collective national interests, advocating for greater unity among independent states through multilateral cooperation mechanisms.

Atabak stated that Iran is prepared to leverage its transit capacities to link the EAEU to major markets, including the Persian Gulf, South Asia, and Southeast Asia. He emphasized the mutual benefits of such collaboration, which would not only drive sustainable growth and prosperity for participating nations but also bolster their resilience against potential future economic shocks.

“The operationalization of the free trade agreement with the EAEU represents a transformative opportunity,” Atabak remarked. “Iran is ready to provide its extensive capabilities to achieve shared objectives.”

Beginning his address, Atabak condemned recent crimes by the Israeli regime and its allies, criticizing global mechanisms for their inaction over the past 15 months. This statement reflects Iran’s broader diplomatic stance on international issues, reinforcing its calls for accountability on the global stage.”Eurasian ”

During the summit, Atabak held discussions with Russian President Vladimir Putin, as well as other high-ranking officials, including Russia’s Deputy Prime Minister, the head of the Eurasian Economic Commission’s Executive Board, and Armenia’s Deputy Prime Minister. These meetings underscored the importance of deepening bilateral and multilateral ties within the EAEU framework.

The summit concluded with the signing of an agreement granting Iran observer status within the EAEU. This position allows Iran to engage in the union’s activities and access information without binding commitments.

 

The EAEU, founded in 2014, aims to promote economic integration among its member states. Observers currently include Uzbekistan, Moldova, and Cuba.

The recent summit also reaffirmed the implementation of a free trade agreement between Iran and the EAEU, initially signed last year in St. Petersburg. The agreement, now ratified by the parliaments of all five EAEU members and Iran’s Islamic Consultative Assembly, is set to become operational within two months.

Under the agreement, approximately 87% of Iranian exports to EAEU member states will enjoy tariff-free access, reciprocally benefiting EAEU exports to Iran. This development is expected to significantly enhance trade volumes and foster economic integration among the participating nations.

Atabak emphasized the strategic importance of this agreement, noting its potential to unlock vast opportunities for all parties involved. As the free trade zone comes into effect, Iran and the EAEU are poised to strengthen their economic ties, paving the way for increased regional connectivity and shared prosperity.

With its strategic location and growing trade capabilities, Iran stands ready to play a pivotal role in linking the EAEU to key global markets, reinforcing its position as a critical partner in the region’s economic landscape.

 

  • source : IRAN NEWS ECONOMIC DESK