9,321.64 TRY BIST 100 BIST 100
38.20 USD USD USD
5.25 CNY CNY CNY
43.91 EUR EUR EUR
0.12 CNY CNY/EUR CNY/EUR
45.84 TRY Interest Interest
66.96 USD Fossil Oil Fossil Oil
40.44 USD Silver Silver
4.76 USD Copper Copper
99.35 USD Iron Ore Iron Ore
352.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,286.58 TRY Gold (gr) Gold (gr)

Landmark economic alliance: EAEU and Iran set to sign historic free trade agreement

The Eurasian Economic Union (EAEU) and Iran are set to sign a free trade agreement on December 25. The agreement aims to cover 90% of tariff lines, covering 99.2% of EAEU exports. It aims to reduce Iran's average import tariff to 4.5%, saving $380 million annually.

Landmark economic alliance: EAEU and Iran set to sign historic free trade agreement

In a significant diplomatic and economic development, the Eurasian Economic Union (EAEU) and Iran are poised to ink a historic free trade agreement on December 25. This comprehensive accord is designed to encompass an impressive 90% of tariff lines, effectively covering a staggering 99.2% of EAEU exports.

The primary objective of this groundbreaking agreement is to substantially reduce Iran's average import tariff to an enticing 4.5%, potentially resulting in annual savings of a substantial $380 million. Beyond the economic implications, the agreement is expected to foster deeper collaboration between the nations, with a particular focus on technical regulation, sanitary measures, and customs regulation.

This collaborative effort aims to streamline product certification procedures, providing a more efficient and harmonized approach for businesses engaged in cross-border trade. By mitigating barriers to commerce, the agreement seeks to facilitate smoother trade operations, ultimately enhancing economic ties between the EAEU and Iran.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Tosyalı to invest TRY 378 Million in solar power plant in Ankara

Tuesday, April 15, 2025

AGPC reinforced its strength with 500 thousand tons of steel pipe production

Monday, April 21, 2025

AM/NS India prepares for Green Steel Taxonomy

Monday, April 21, 2025

Mozambique on its way to becoming the new center of attraction for iron and steel

Tuesday, April 22, 2025

China's call to Japan: Let's stand together against Trump's tariffs

Tuesday, April 22, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now