Iran, EAEU Extend Interim FTA

January 5, 2022 |Tariffs and Trade Negotiations

Iran and the Eurasian Economic Union renewed their interim free trade deal until Oct. 27, 2025, or until a final agreement is reached and takes effect, the Hong Kong Trade Development Council reported Jan. 3. Iran and the EAEU in 2018 agreed to a three-year interim deal, which reduced customs duties on more than 800 categories of goods, including more than 500 Iranian exports and more than 350 EAEU exports, HKTDC said. Those goods account for about half of the trade under the deal, the report said, which has “grown significantly” since the interim deal took effect Oct. 27, 2019.