Rouhani Signs Into Law Agreement on Iran-EEU Trade Zone Establishment

• 07.09.2019, 11:25
•  EEU,  Region,  Near East,  World

© РИА Новости / Сергей Гунеев

The President Rouhani issued the affiliated orders to the Iranian industry ministry on Monday, mehrnews.com reports.

On June 27, and after the approval of a Parliament bill for setting up an economic union between Islamic Republic of Iran and five Eurasian countries, the Guardian Council (GC) took a giant stride in breaking sanctions and developing economy of the country. Given the above issue, the Guardian Council confirmed the bill of temporary agreement for launching a free trade zone between Iran and EEU and member states.

By approving the bill by the Guardian Council, Islamic Republic of Iran can take an important step in tandem with a number of Eurasian countries such as Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan in line with strengthening its economy and breaking US unilateral sanctions imposed against Iran.

Facilitating trade, setting up a common market in the area of Commonwealth Independent States (CIS), gradual removal of customs rules in EEU, launching joint foreign tariff among member states, coordinating customs formalities, free movement of goods, capital, labor force and services in Eurasian borders, restoring joint policy in the fields of energy, industry, agriculture and vehicles are of the seven major aims of Eurasian Economic Union (EEU).

Given the general policies of the “resistance economy” notified by the Leader of the Islamic Revolution, presence of the Islamic Republic of Iran in EEU will lay the ground for showcasing Iranian products in the countries that have common historical and cultural history with us.