The Eurasian Union will complete analysis of the possible benefits of free trade with Iran by the end of this year, Minister of Trade of the Eurasian Economic Commission (EEC) Veronica Nikishin said.

 Initially, the Eurasian Union is preparing to sign an interim agreement with Iran on free trade, which will reduce tariffs on a limited number of goods, RIA Novosti reported quoting Belarus 1 television.

“In the future, we are ready to explore the benefits of cooperation with Iran, may be more preferential cooperation than there is now, and in other sectors,” she said.

Possible trade regimes are discussed by a bilateral research group, which will submit the results of its work by the end of this year.

The same group is also working with India, and is conducting negotiations on trade cooperation with China.