Iran may sign an agreement with the Eurasian Economic Union in the next Iranian calendar year 1394 (March 2015-March 2016).
Iranian ambassador to Russia Mehdi Sanaei said Iran’s Ministry of Industry and Trade has been negotiating with the Eurasian Economic Union to reduce customs duties between Iran and members of the union, Iran’s IRNA news agency informs.
The Eurasian Economic Union is an economic union of states located primarily in northern Eurasia. A treaty aiming for the establishment of the EEU was signed on 29 May 2014 by Belarus, Kazakhstan and Russia, and came into force on January 2015.
Agreements to enlarge the EEU to Armenia and Kyrgyzstan were signed on October and December 2014, respectively.