YEREVAN. – A free-trade zone (FTZ) agreement with Iran will be discussed in December, at the level of the heads of the Eurasian Economic Union (EAEU, which comprises Armenia Russia, Belarus, Kazakhstan, and Kyrgyzstan) states.

Deputy Director of the Integration Development Department at the Eurasian Economic Commission (EEC)—the executive body of the EAEU, Saadat Assanseitova, told the aforesaid to reporters, and within the framework of Saturday’s joint meeting of the Standing Committee on Foreign Relations of the National Assembly of Armenia and of the Committee on Foreign Affairs of the Federation Council of Russia, in Armenia’s capital city of Yerevan.

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She noted that if a respective political decision is adopted, negotiations will begin toward signing such a document. 

We are studying the chances of signing an agreement on creating a free-trade zone with Iran, which is the fourth largest partner of Armenia,” said Assanseitova. “And Armenia, as a bordering country [of Iran], is most interested in it.

“According to our calculation, in case of tariff liberalization with Iran, the exporting of goods from the EAEU countries to Iran could grow by more than 70 percent while exports from Armenia to Iran—by more than three times.”