WANA (Oct 06) – Mohammad Ali Dehghan Dehnavi, Head of Iran’s Trade Promotion Organization, announced that Iran entered into a free trade agreement with the Eurasian Economic Union (EAEU) four years ago, leading to a 2.5-fold increase in trade with member countries.

 

He emphasized the importance of moving towards free trade, noting that the reduction or elimination of tariffs on 87% of goods under this agreement has created new opportunities for Iranian traders.

 

Dehnavi also reported that the free trade agreement with the EAEU is being approved by the Iranian Parliament, with three of the five-member countries having already ratified the deal. He highlighted the need for Iranian businesses to prepare for increased competition, as EAEU countries are keen to bring their goods to the Iranian market.

 

Addressing export challenges, particularly related to trade guarantees with Armenia, Dehnavi mentioned a proposal to establish an Iranian free trade zone in Armenia, which would provide a significant opportunity for Iranian exporters.

 

Dehnavi reiterated that the Trade Promotion Organization serves as a supporter and facilitator for Iranian traders and called on the private sector to play a greater role in boosting non-oil exports.

 

He also acknowledged the ongoing challenges of lengthy administrative processes and inefficient systems but promised further efforts to overcome these obstacles and streamline trade operations.

 

He concluded by emphasizing the need for a stronger focus on competitive production to enhance non-oil exports.