Russia supports extension of Eurasian free trade agreement with Iran – Mehr News Agency | Iran and world’s news

“Russia supports the initiative to extend the Eurasian Free Trade Agreement with Iran,” Russian President Vladimir Putin said at a meeting of the Eurasian Supreme Economic Council on Friday, Mehr news agency reported, quoting Sputnik news agency.

The Russian president went on to say that negotiations are currently underway to conclude a full-fledged free trade agreement, including with Iran, which will replace the current interim agreement.

Vladimir Putin noted that the implementation of the free trade agreement has a significant impact on Eurasian trade.

He continued: At the end of 2021, trade increased by 73.5% to $ 5 billion, exports from Eurasia increased by 2.1 times and to $ 3.4 billion. To maintain the current preferential trade system with Iran, we support the decision to extend the interim agreement until a new free trade agreement is concluded.

The Russian president also welcomed the intensification of negotiations on a free trade agreement between Eurasia and Egypt, the start of similar negotiations with Indonesia and the consideration of concluding a preferential trade agreement with the UAE.