Belarus Ratifies Free Trade Agreement with IranBelarus Ratifies Free Trade Agreement with Iran The Republic of Belarus has ratified the Free Trade Agreement (FTA) between the Eurasian Economic Union (EAEU) and the Islamic Republic of Iran. The agreement was published on the national legal Internet portal. The primary goal of the FTA is to establish a comprehensive free trade zone between the EAEU member states and Iran. This will involve the removal of tariff and non-tariff barriers to market access for a wide range of goods, fostering the diversification of export supplies and enhancing trade-economic cooperation. By eliminating import duties, the Iranian market presents significant opportunities for Belarusian exporters to bolster their competitiveness and increase their supply of goods. “The Iranian market, with a population of over 80 million, is now accessible to us,” said Viktor Pleskach, a member of the Standing Committee on Housing Policy, Trade and Construction of the House of Representatives. “This agreement gives us certain preferences and opens up new avenues for trade and technological collaboration.” The EAEU, a large economic association, is actively seeking new markets to offset the closure of Western markets. “Iran represents an exceptional opportunity for us to promote our products, particularly in mechanical engineering and food,” added Pleskach. “The EAEU is committed to expanding into Asia and Africa, and Iran is a prime example of our strategy in action.” The FTA between the EAEU and Iran is expected to significantly boost trade volume and strengthen economic ties between the two regions.
Belarus has ratified the Free Trade Agreement between the members of the Eurasian Economic Union (EAEU) on the one hand and the Islamic Republic of Iran on the other, publishing the document on the national legal Internet portal, sb.by reports
The aim of the agreement is to create a full free trade area between the EAEU members and Iran, to ensure the diversification of export supplies by removing tariff and non-tariff barriers to market access for a wide range of goods, and to improve the conditions for trade-economic liaisons. The opening of the Iranian market by zeroing duties will provide Belarusian exporters with more competitive conditions for the supply of goods.
“What does this bring to Belarus? The Iranian market with all its possibilities and with a population of more than 80 million people is opening up to us today. Tariff barriers are being lifted. Today we can trade openly with Iran, while having certain preferences. Today we can develop technologies on the basis of mutually beneficial cooperation. In fact, the Iranian market – together with the Chinese market – is a very big opportunity for us to promote our products: both mechanical engineering and food. The EAEU is a huge association, so we are looking for new markets. They are closing the gates to the West for us, but we are opening the gates to the East, Asia and Africa. Iran is one of the examples of how we can work today,” said Viktor Pleskach, a member of the Standing Committee on Housing Policy, Trade and Construction of the House of Representatives.
