The issue of the course of negotiations on concluding an agreement on the establishment of a free trade zone between the Eurasian Economic Union (EAEU) and Iran was considered following a meeting of the Eurasian Intergovernmental Council. The Deputy Minister of Economy and Commerce Nazarbek Malayev told at a press conference.
He noted that the main advantages of the agreement are the provision of tariff benefits, reduction and removal of customs duties. To date, a temporary trade agreement between the EAEU and Iran is in force. All its benefits will be included in the new document. This agreement is beneficial for Kyrgyzstan, because the parties are steadily increasing the volume of mutual trade.
«The volume of trade between the Kyrgyz Republic and Iran is growing. In 2022, it increased 1.8 times, of which exports increased 14 times, and imports — 1.3 times. According to the results of the first quarter of 2023, the volume of trade increased 2.5 times, including imports — 2 times, exports — 5.5 times. Kyrgyzstan imports tea, dried fruits, paints, carpets and other goods from Iran, and exports beans, dried fruits, nuts, meat and other goods to Iran,» the official said.
Source: 24.kg News Agency