YEREVAN, JUNE 10, ARMENPRESS. The Parliament of Iran has ratified the agreement on creating free trade zone with the Eurasian Economic Union (EAEU), Armenian economy minister’s spokesperson Anna Ohanyan told ARMENPRESS.

“During the June 10 plenary session the Iranian Parliament ratified the agreement on creating free trade zone with the EAEU”, she said.

She informed that this document is the first stage of creation of free trade zone between Iran and EAEU. The interim agreement is signed for a three-year term during which the sides should agree upon signing a complete agreement on free trade zone. According to the agreement the EAEU will grant Iran tariff concessions on more than 500 items.

The EAEU-Iran interim free trade zone agreement has been signed on May 17, 2018, on the sidelines of the Astana Economic Forum. The Parliaments of all EAEU member states have ratified the agreement.

EAEU member states are Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan.

Edited and translated by Aneta Harutyunyan