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16 November 2024
Armenian Parliament Approves Free Trade Agreement Between Iran, EEU
The ratification marks a further step in strengthening economic ties between Iran and the EEU, which includes Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan.
Photo: Mehr News
The Armenian parliament has ratified the free trade agreement between Iran and the Eurasian Economic Union (EEU).
The agreement was approved on Friday, with 95 lawmakers voting in favor, The Caspian Post reports, citing Iranian media.
According to Armenian Economy Minister Gevorg Papoyan, the new deal builds on an interim free trade agreement signed between Iran and the EEU in 2019. Papoyan highlighted that the 2019 agreement had significantly boosted trade between the EEU member states and Iran, increasing bilateral trade from $2.4 billion to $5.2 billion.
The ratification marks a further step in strengthening economic ties between Iran and the EEU, which includes Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan.
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