Belarus ratified free trade agreement between EAEU and Iran

Belarus has ratified the free trade agreement between the Eurasian Economic Union (EAEU) members on the one hand and the Islamic Republic of Iran on the other, with the document published on the National Legal Internet Portal, sb.by reports

The purpose of the agreement is to create a full-format free trade zone between the EAEU members and Iran, ensuring the diversification of export supplies by removing tariff and non-tariff barriers to market access for a wide range of goods, as well as improving conditions for trade-economic liaisons. The opening of the Iranian market by zeroing duties will provide Belarus’ exporters with more competitive conditions for the supply of goods.

“What does this give Belarus? The Iranian market with all its possibilities and with a population of over 80 million people is opening up for us today. Tariff barriers are being removed. We can trade openly with Iran today, while having certain preferences. Today we can develop technologies based on mutually beneficial co-operation. Actually, the Iranian market – together with that of China – is a very big chance for us to promote our products: both machine building and food. The EAEU is a huge association, so we’re looking for new markets. They close the gates to the West in front of us, but we open the gates to the East, Asia, and Africa. Iran is one of the examples of how we can work today,” Viktor Pleskach, a member of the Standing Commission on Housing Policy, Trade and Construction of the House of Representatives, said.