EAEU and Iran switch to new preferential terms of trade

An interim agreement on formation of a free trade zone between the Eurasian Economic Union (EAEU) and Iran entered into force on October 27. The Eurasian Economic Commission (EEC) reported.
The trade agreement includes almost all the main traded types of products. They account for 55 percent of the EAEU's total exports. These are agricultural and industrial groups of goods. Preferential import coverage accounts for 49 percent of Iran's total supply to the EAEU.
"The list of goods for which exporters of the EAEU countries will get preferences includes meat, oil and fat products, certain types of confectionery and chocolate, as well as metals, cosmetics, certain types of electronic and mechanical equipment. The Iranian side will be provided with tariff preferences for vegetables, fruits, dried fruits, as well as building materials, utensils, carpets, some non-ferrous metal products," the EEC stressed.