Armenian goods to enter Iranian market with less restrictions by Iran-EAEU simplified trade deal

YEREVAN, MARCH 4, ARMENPRESS. The Iran-Eurasian Economic Union (EAEU) simplified trade agreement will be a great opportunity for Armenia to expand the trade with Iran, Minister of economic development and investments Tigran Khachatryan told reporters at a briefing in Parliament, reports Armenpress.

“The Iran-EAEU simplified trade deal will provide great opportunities for the entry of the currently operating companies in the EAEU, first of all, the Armenian companies to the Iranian market. The ratification of the simplified deal will free nearly 300 types of goods from the non-tariff regulation restriction. The value tariffs will decrease. This is an opportunity to export any goods produced in Armenia to the Iranian market with less restrictions and bans”, the minister said.

He informed that Armenia doesn’t have privileged trade agreement with Iran. He noted that after ratifying the Iran-EAEU agreement there will be a great opportunity for the expansion of trade.

The Armenian minister stated that this agreement also provides an opportunity for the Iranian producers for which the Russian, Armenian markets and those of the remaining EAEU states are important especially taking into account the current situation of the Iranian economy.

Tigran Khachatryan said the agreements are called free trade deals if the customs duties are reached to zero, but in this case not in all cases they will be reached to zero. “They have been reduced, but not reached to zero. Therefore, it is considered as a transitional agreement, I suppose the next stage is the deepening of the trade relations that the next agreement will be called free trade deal”, he said.

He informed that the agreement is already signed. 3 out of 5 states have already ratified it, Armenia will also ratify it soon.

Edited and translated by Aneta Harutyunyan