Iranian president orders to start implementing free trade zone agreement with EAEU

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Iranian President Hassan Rouhani has tasked the country’s Ministry of Industry, Mine and Trade to start implementing the free trade zone agreement with the Eurasian Economic Union (EAEU), the president’s press service reported on Monday, Trend reports citing TASS.

Iran’s Majlis (parliament) ratified the document in June.

The Eurasian Economic Union and Iran signed the temporary agreement on free trade zone that is aimed at boosting trade between the countries through eased customs regulations, on May 17, 2018.

The law passed by the parliament particularly contains provisions on preferential tax regulation for import and export operations and on compiling a list of goods eligible for reduced customs duties.