Tehran,Dec.28 (SENA) - Vice chairman of the Iran Trade Promotion Organization says that given the tremendous advantages Iran's economy does enjoy, the export volume of Iranian manufactured goods and services to Eurasian Economic Union member states could be easily increased to 20 billion USD cumulative value.

According to the Securities and Exchange News Agency report,  Masoud Kamali Ardekani said: Eurasian Economic Union  is comprised of Russia, Belarus,Armenia,Kazakhstan ,Kyrgyzstan and Iran that in sum have around 900 billion USD worth of economic exchanges of which Iran's share is  2 billion USD per year.

Iran has focused to promote its relationships with the union and in that sense a great duty falls upon us in the government to explore areas in which  Iranian goods and services could be exported and also  bilateral as well as multilateral economic ties enhanced. That being said, rough estimations indicate that the existing potential for promotion of Iranian exports to the above mentioned countries  well exceeds 20 billion USD that in fact is quite noteworthy, he added.

"We have reduced tariffs on Iranian exports up to %90  just  to encourage merchants and businesspersons to get more  involved  in doing business with Eurasia  economic union member countries because we in the government truly believe that diversification of foreign  markets for our exports is a must because more options become  available for exportation and  better deals could be made accordingly."SENA quoted Ardekani as saying.

The Eurasian Economic Union  is an  economic union of states located in central and northern Asia and  Eastern Europe. The Treaty on the Eurasian Economic Union was signed on 29 May 2014 by the leaders of  Belarus,  Kazakhstan and  Russia, and came into force on 1 January 2015. Treaties aiming for Armenia's and Kyrgyzstan's accession to the Eurasian Economic Union were signed on 9 October and 23 December 2014, respectively. Armenia's accession treaty came into force on 2 January 2015. Kyrgyzstan's accession treaty came into effect on 6 August 2015. It participated in the EAEU from the day of its establishment as an acceding state.

Iran has just signed an agreement to enter a three year provisional free trade agreement with the Eurasian Economic Union (EAEU).


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