Iranian President Hassan Rouhani called for closer interaction with the Eurasian Economic Union (EAEU) amid the pressure of sanctions, Tasnim reported.

Rouhani heard a report on the implementation of free trade agreements with the Eurasian Economic Union.

According to the president, data on trade exchanges with the EAEU over the past year show that cooperation with the EAEU has opened the door to a new market for the export of Iranian products.

The presence of Iran in the EAEU is much more important than before, in the current conditions of economic war and the consequences of the coronavirus, Rouhani said.

In June 2019, the Iranian parliament ratified an agreement that allows it to join the free trade zone with the EAEU countries.

The agreement, signed in Kazakhstan in May 2018, establishes the basic rules for trade between the EAEU, Iran, and the World Trade Organization (WTO), of which Iran is not a member.

The free trade zone is expected to operate for four years, the EAEU will provide Iran with tariff concessions on more than 500 items.