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Eurasian Economic Union and Iran Sign Free Trade Agreement

A free trade agreement was signed between the Eurasian Economic Union (EAEU) and Iran during EAEU’s conference held in St. Petersburg on Dec. 25. The fulfillment of this agreement was the topic of discussion during a telephone call yesterday between Russian Foreign Minister Sergey Lavrov and Iranian Foreign Minister Hossein Amir-Abdollahian.

“Mutual intention to further increase bilateral trade and economic cooperation was expressed, including by relying on the free trade agreement between the Eurasian Economic Union and Iran signed on Dec. 25 in St. Petersburg,” a Russian Foreign Ministry statement said. According [to TASS](, issues of bilateral, regional and international agenda were also discussed within the framework of developing contacts at various levels.

In a Dec. 27 interview with the Islamic Republic News Agency (IRNA), Mohammad Mohammadi Bakhsh, the head of the republic’s Civil Aviation Organization, commented that the free trade agreement will make Iran a key transportation hub. “The fact that our country enjoys access to open waters enables us to carry cargoes along the North-South corridor [INSTC], and as air transport connection with EAEU member states develops Iran will turn into a major transport hub,” he said. The official pointed out that Iran’s geopolitical position and its capabilities to transport cargo presents his country with a huge potential for development of air transport relations with the countries of the Eurasian Economic Union with the purpose of satisfying their needs in this area, [TASS reported]](">(