Iran at Eurasia summit: a step forward to improvements in Iran’s economy


Iranian President Hassan Rouhani attended the Eurasian Economic Union hosted by Yerevan. Rouhani mentioned that Iran is ready to share experiences with Armenia in different areas of technology, engineering, dam construction and energy. Also, President Armen Sarkissian said that Armenia seeks to expand ties with Iran in various fields as well. Rouhani held a separate meeting with Armenian Prime Minister Nikol Pashinyan which he said that Iran will start its activities in the Eurasian Economic Union from next month.

“I welcome any kind of financial and banking cooperation with member states to Eurasian Union. So, I suggest formation of a special task force for joint investment. Task forces should be formed for cooperation of Iran with Eurasia which study capacities of cooperation in various areas of energy, electricity and transport and follow the process of their implementation,” Rouhani stated.

Iran's presence in the Eurasian Union could bring tariff discounts for Iranian exporters to the Eurasian Economic Union countries. Negotiations between Iran and Eurasia resulted in a trade agreement between the countries from 2015, which will be implemented on November. Under the agreement, Iran will receive special customs privileges from the Eurasian Economic Union, and the countries of the union will also be able to increase their exports to Iran by up to 75%. Iran can also increase exports to five Eurasian countries with concessions it receives. Among these concessions are 502 items in the field of food, chemicals, construction products, export of technical and engineering services, industrial products and agricultural products by the Eurasian Union, and 360 similar items by Iran.

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