Iran to Finalize FTZ Legalities With EEU Soon

Legalities for the creation of a free trade zone between Iran and the Eurasian Economic Union are expected to be finalized within a month, Iranian Deputy Industries Minister Alireza Peymanpak, who is also the head of Iran's Trade Promotion Organization, said on Wednesday.
"Considering that within a month the final arrangements and formalities of Iran's presence in the EEU will be over, this can be a positive factor that will affect joint cooperation," he was quoted as saying by TASS.
According to the deputy minister, Iran is interested in creating a free economic zone in partnership with EEU and is ready to provide the infrastructure of its seaports for the implementation of relevant projects.
An interim agreement on the formation of a free trade zone between EEU and its member states (Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia) and Iran was concluded on May 17, 2018, and has been in effect since Oct. 27, 2019.