According the Minister of Economy of RA, Tigran Khachatrian, Iran is expected to sign an interim
agreement on the creation of a free trade zone with the Eurasian Economic Union (EEU) later this summer.
The National Assembly of Armenia approved in the first reading a draft law on ratification of the interim agreement on the establishment of a free trade zone between the Eurasian Economic Union member states and Iran on March 27.
“The agreement on the creation of a free trade zone with Iran has been ratified by all five members of the EEU. We expect Iran to ratify the agreement this summer,” the minister said.
He stressed that the agreement clarified one of the main contentious issues: in many cases, three-quarters of the current customs duties were significantly reduced.
“This agreement is envisaged for a transitional period, and the next stage of deeper cooperation will come when these duties are eliminated on both sides,” said Khachatryan.